MOSCOW (MRC) -- The plant will be constructed in Sumgayit Chemical Technology Park and SOCAR Polimer takes part in the construction project, said Azernews, citing the Head of the Azerkimya Production Association of Azerbaijan's state energy company SOCAR Mukhtar Babayev.
He also stressed as part of the construction project, most of the equipment has already been delivered to the country and currently, detailed designing and preparation of the construction area are underway.
Touching on the construction of the plant for the production of low pressure polyethylene, Babayev said this facility will be commissioned in the beginning of 2017.
"Initial operational capacity of the polypropylene plant makes up 150,000 tons, and the plant for the production of low density polyethylene-100,000 tons per year," he said.
The SOCAR Polimer enterprise with authorized capital of USD51 million has been established for the implementation of these projects. The state energy company plans to keep its share in the project at 51% and the rest will be offered to privately owned companies.
SOCAR has already transferred 25.5 million manats within the framework of increasing authorized capital of the facility, Babayev added.
As MRC wrote before, SOCAR in 2012 signed a contract to build a plant for the production of polypropylene and polyethylene of high density with an annual capacity of 200,000 and 100,000 tons respectively. Construction of these facilities is planned in the Sumgait Chemical Technology Park.
SOCAR, which is keen on expanding operations in the retail oil products market abroad, is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in the domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan
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