Azerbaijan, Baku, 13 March / Trend E.Ismayilov /
Construction of a new plant for the production of carbamide in Azerbaijan will cost nearly 500 million euros excluding taxes, president of SOCAR (State Oil Company of Azerbaijan) Rovnag Abdullayev told journalists.
Abdullayev said construction work will be completed within 33 months. Commissioning of the plant and its first production line are expected by the end of 2015.
According to Abdullayev, the Korean company Samsung Engineering, chosen as the general contractor for construction of a carbamide plant in Azerbaijan, will also prepare a feasibility study (FS) of the construction of a plant for the production of carbamide and ammonia in Georgia. The Korean company will also become involved in attracting funds for the Georgian project. Under the feasibility study, the company will determine the exact proportion of carbamide and ammonia production.
A contract with Samsung Engineering Co Ltd for the design, procurement and construction of a carbamide plant in Sumgayit was signed in Baku on Wednesday.