BAKU, Azerbaijan, Mar. 31
By Fidan Babayeva - Trend:
Azerbaijan’s SOCAR Polymer took one of the leading places in the private sector in terms of export from the country from January through February 2021, Trend reports citing the Export Review of the Center for Analysis of Economic Reforms and Communication (CAERC) of Azerbaijan.
According to the review, in the reporting period, SOCAR Polymer exported products worth $29.9 million from Azerbaijan.
Consequently, exports of the company’s products increased by 45 percent or $9.9 million on an annual basis.
SOCAR Polymer has become the first large-scale project in the petrochemical industry of Azerbaijan over the past 40 years. The project, which aims to accelerate the development of the chemical industry in the country, was founded in 2013.
The company's production facilities consist of two plants for the production of polypropylene and high-density polyethylene, located on the territory of the Sumgayit Chemical Industrial Park.
The plants were commissioned in 2018 and 2019, respectively.
The successful results of this project are expected to create multiplier effects in many important sectors of the Azerbaijani industry and create numerous jobs.
Follow the author on Twitter: @Fidan_Babaeva