Baku, Azerbaijan, Oct.30
By Maksim Tsurkov - Trend:
The State Oil Company of Azerbaijan plans to fully modernize the country's chemical industry, including Azerkimya production association by 2020, the company's president Rovnag Abdullayev said Oct.30.
He made the remarks during the event dedicated to the 70th anniversary of Azerbaijan's chemical industry.
"We plan to carry out full modernization of the chemical production by late 2019," said the company head.
"We should carry out great work, implement new projects by using funds from the state budget," he said. "One of our main tasks is to provide the new plants to be constructed as part of SOCAR Polymer's project with raw materials."
Abdullayev added that liquidation of old enterprises became the first step in the implementation of the modernization program.
SOCAR Polymer's project is being implemented at the Sumgait Chemical Industrial Park. The project will allow producing 180,000 tons of polypropylene and 120,000 tons of polyethylene a year.
It is expected to start the production of polypropylene in 2016, and the production of polyethylene in 2017. The main part of the products is to be sent to the markets in Turkey and Western Europe.
SOCAR is the sole producer of oil products in Azerbaijan. It has two oil refineries and filling stations in Azerbaijan, Georgia, Ukraine, Romania and Switzerland. The company is the co-owner of the largest Turkish petrochemical complex, Petkim, and other assets in Turkey.
It includes production associations Azneft (the enterprises producing oil and gas onshore and offshore), Azerkimya (the chemical industry enterprises) and Azerigaz.
Edited by SI
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