EximBank allocates 500M euros for SOCAR’s carbamide plant
Baku, Azerbaijan, Jan. 17
By Azad Hasanli – Trend:
The Export–Import Bank of South Korea (EximBank) has given 500 million euros for the construction project of a carbamide plant of Azerbaijan’s state oil company SOCAR in Sumgait, the South Korean media reported Jan. 17.
The financial assistance helps to develop the economic cooperation between Azerbaijan and South Korea and also lays the foundation for implementation of new large-scale projects in Azerbaijan, says the report citing EximBank’s message.
The cost of the construction project of the carbamide plant in Sumgait totals about 700-750 million euros.
It is expected that SOCAR’s carbamide plant will start producing in the 1Q2018. The main contractor of the plant’s construction is South Korea’s Samsung Engineering, while the licensors are Stamicarbon B.V. (the Netherlands) and Haldor Topsoe (Denmark), and the consultant on project management is Neste Jacobs Oy (Finland).
The plant, which will have sectors producing ammonia, liquid and granulated carbamide, is expected to produce 2,000 tons of carbamide and 1,200 tons of ammonia per day.