Azerikimya Implements New Petrochemical Complex Project in Azerbaijan
Azerbaijan, Baku, 12 September / Trend /Under the decree of the Azerbaijani President Ilham Aliyev on prospective development of petrochemical and chemical industry in Azerbaijan, Azerkimya state venture has developed a set of documents on feasibility study to establish a new complex with the Technip technical consultant, Nexant company, White and Case consultant on juridical issues and financial consultant with the Societe Generale bank
Azerkimya's delegation headed by Prof. and MP Majid Karimov, President of the company, paid a visit to London on 5 September. During the visit the company signed a Memorandum on mutual understanding and Memorandum on confidentiality was signed with ExxonMobile, Bazel, KBR, Technip, Imeos Thysenn Krupp and Unde to construct a modern petrochemical complex in Sumgait.
Project's implementation will enable Azerkimya to reinforce its position in world markets and to cover internal demand in Azerbaijan.
New complex, which consist of 19 plants with modern technologies, will be the largest different petrochemical product producer in the region and first in the CIS.
Complex will annually produce 700,000 tons high and low pressure polyethylene, 130,000 tons polypropylene, 40,000 tons benzol and other petrochemical products. The production of these products will enable the country to cover its construction material, plastic tubes, paints, varnish, rubber and synthetics demands.
Special equipment is expected to be installed in the complex to clean gas through separation means, as well as to produce ammoniac and carbamide including production of different olefine, polycolefine and petrochemical products.
Under the State program to provide Azerbaijani population with safety food products in 2008-2015, which was approved by the President on 25 August 2008, envisages construction of a plant to produce nitrogen fertilizer for the agrarian sphere in 2008-2010. For this purpose, Nexant developed feasibility study under Azerkimya's order to construct a plant with annual production capacity of 800,000.
The plant will cover country's nitrogen fertilizer demand and will enable to receive additional funds through exporting to foreign countries. At present, a contractor is being selected.
The new complex will impact development of the non-oil sector, as well as will enable to open high paid multiple-discipline jobs. International companies will old long standing trainings to prepare high qualified staff.
The works in the complex has been launched after the documents were submitted to the President. Documents were developed by Azerkimya through cooperation of largest foreign companies.
According to Karimov, the project will be a new success in economic development of the country and promote Azerbaijan the leadership in petrochemical industry in the Caspian and Mediterranean Seas region.