Plans to build to the 'world's tallest tower' in Azerbaijan have been announced by a leading businessman, a report said.

Azerbaijani businessman Haji Ibrahim Nehramli, president of the Avesta Group of Companies, said the project will come up on the Khazar Islands, an artificial island in the Caspian, said the News.Az website.

The Azerbaijan Tower will be 1,050 m high with 189 floors, it said. It will be 200 m higher than the world's current tallest building - Burj Khalifa, and 50 m taller than the Kingdom Tower coming up in Jeddah, Saudi Arabia.

The report said Avesta is already held talks with the companies that built Burj Khalifa. Work on the project is expected to start in 2016.