Baku, Azerbaijan, Apr. 7
By Maksim Tsurkov - Trend:
Companies Tecnimont and Kinetics Technology, which are part of the Maire Tecnimont group, reached an agreement with SOCAR (State Oil Company of Azerbaijan) for the implementation of EPC-contract for the construction of polypropylene production within the framework of the SOCAR Polymer project, said the message of the group, posted Apr.7 on its website.
The total contract value is approximately 350 million euros.
"The contract provides for rendering full technical services, procurement, installation work and construction activity before commissioning the project, as well as its trial," said the message.
The message said that the contract will be signed in Baku on April 14 in the presence of members of the governments of Azerbaijan and Italy.
SOCAR Polymer project is implemented in Sumgait Chemical Industrial Park. This project implementation will make it possible to produce 180,000 metric tons of polypropylene and 120,000 metric tons of polyethylene per year. Production of the propylene polymer is expected to begin in 2016. Most of the production is planned to be sent to markets of Turkey and countries of Western Europe.
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