details added (first version posted at 12:08)
Baku, Azerbaijan, Feb. 5
SOCAR has signed a contract with Maire Tecnimont to execute a EPC (Engineering Procurement Construction) contract for the construction of a polyethylene production plant as part of SOCAR Polymer project.
The contract is worth $180 million.
The contract was signed by SOCAR head Rovnag Abdullayev and Maire Tecnimont director general Pierroberto Folgiero.
Abdullayev said that a high density polyethylene production facility will begin in 2016.
SOCAR Polymer project is being implemented in the Sumgait Chemical Industrial Park. This project will allow producing 180,000 tons of polypropylene and 120,000 tons of polyethylene per year.