Baku, Azerbaijan, June 21
By Ilkin Shafiyev - Trend:
SOCAR Polymer LLC intends to reach revenue of $550 million by 2035, a source in the company told Trend June 21.
The source noted that by 2018 the company forecasts revenues at about $60 million, by 2019 – at about $290 million, by 2020 – at about $340 million. By 2021, SOCAR Polymer forecasts revenues of $370 million, according to the source.
At the same time, majority of the revenues are planned to be received from the sale of polypropylene, the source added.
Earlier, Rovnag Abdullayev, president of Azerbaijan’s state oil company SOCAR, said that revenues from export of products as part of the SOCAR Polymer project are forecast to total $8 billion for the whole period of the plant’s activity.
SOCAR Polymer is the biggest petrochemical project in Azerbaijan in the last 40 years, he noted.
The SOCAR Polymer project is being implemented in the Sumgait Chemical Industrial Park (SCIP). At the first stage, its production capacity will total 120,000 tons of polyethylene and 180,000 tons of polypropylene. The total capacity may reach 570,000 tons by 2021.
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