BAKU, Azerbaijan, Sept. 1
Trend:
SOCAR Polymer ranks first in the private sector in Azerbaijan’s export from January through July 2020, Trend reports referring to the ‘Export Review’ of the Center for Analysis of Economic Reforms and Communication (CAERC).
In the first seven months of 2020, the company exported $74.9 million worth of products from Azerbaijan, the report said.
According to the CAERC, the export of SOCAR Polymer’s products increased by 46.9 percent or by $23.7 million over the year.
SOCAR Polymer is the first large-scale project implemented in the petrochemical industry of Azerbaijan over the past 40 years.
The project, aiming at accelerating the development of the chemical industry in Azerbaijan, was launched in 2013. The company's production facilities consist of two plants for the production of polypropylene and high-density polyethylene, located in the Sumgait Chemical Industrial Park LLC. The plants were commissioned in 2018 and 2019, respectively.