Azerbaijan, Baku, May 22 / Trend E.Ismayilov I.Khalilova /
The State Oil Company of Azerbaijan Republic (SOCAR) is likely to stabilize the production of chemical products at production union (PU) Azerkimiya in the coming year and a half, PU Head Mukhtar Babayev said.
"I think that we will fully stabilize production in the next year and a half, and we can talk about the possibility of mounting this modern installation in a 2 or 2.5 years," Babayev said.
He said the installation of new equipment means the production of high-density polyethylene, polypropylene, in which there is great demand at today's market.
SOCAR may attract foreign capital in addition to its own investments to carry out all work. The company will prepare an investment program in the near future for this end. Today, SOCAR headquarters together with the PU work to develop a concept of the chemical industry development. The possibility of attracting foreign consultant in this direction also was not excluded, as there is a question of integration with other enterprises and establishment of Techno Park.
Babayev said Azerbaijan receives a large number of finished chemical products - from plastic dishes to plastic profiles. The main purpose of Techno Park is the organization of a complete cycle of production of finished products. SOCAR will create all opportunities and conditions, and provide the necessary infrastructure for the establishment and operation of the industrial park in this case.
Today, 90 percent of the raw material produced by Azerkimiya is exported, and the remaining 10 percent are processed in the finished product in the country. The main goal is to change this balance in favor of the Azerbaijani market, that is to supply more to the domestic market and encourage companies that will be interested in processing chemical raw materials, create all necessary conditions and establish Techno Park in a fairly short period, on which will be produced a part of finished chemical products, which mainly imported to Azerbaijan.
Expanding range of products and improving the quality of it - to bring to the world standards also among the priority objectives, Babayev added.
He said the production of chemical products at the PU has been unstable in recent years and the production is often stopped.
"Today we already have specific plans and we want to conduct overhaul of several units in July-August. This will allow us to work without interruption for some time. Working without stopping production means enough high quality and we will be able to realize plans for the medium and long term," Babayev said.
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