Baku, Azerbaijan, Nov. 29
By Maksim Tsurkov – Trend:
About $100 million were saved as part of implementation of the SOCAR Polymer project due to the introduction of tax and other benefits in the Sumgait Chemical Industrial Park, Fuad Ahmadov, financial director of SOCAR Polymer company, said at the fourth international conference in Baku titled “Oil refining and petrochemistry of the Caspian Sea and Central Asia” Nov. 29.
He said that the polypropylene unit will be ready and commissioned in May next year, and polyethylene - by October next year.
“The unit for production of polypropylene is 94.8 percent ready,” Ahmadov said. “The test work regarding the unit is already underway, start-up and commissioning work is being launched. Engineering work and all supplies are finished, so there are no risks of delaying the project because of logistics. In general, we are in an active stage and we will start production of polypropylene in May 2018.”
The unit for production of polyethylene is 81.4 percent ready and will be commissioned at the end of the third quarter of next year, he noted.
Total cost of SOCAR Polymer is $750 million. At the first stage, its production capacity will total 120,000 tons of polyethylene and 180,000 tons of polypropylene. The total capacity may reach 570,000 tons by 2021.