Baku, Azerbaijan, Jan.10
By Leman Zeynalova - Trend:
Construction of the bitumen plant at Baku oil refinery named after Heydar Aliyev is on track, advisor to vice-president on strategic development at Azerbaijan’s state oil company SOCAR Teymur Aliyev told Trend.
“More than 90 percent of the basic equipment has already been delivered to the site. The construction work is going on at full speed,” he said.
Aliyev noted that the plant is expected to be commissioned by late summer 2018.
The project’s cost is estimated at approximately 50 million euros.
The Baku Oil Refinery’s modernization will be completed until 2020. The refinery’s processing capacity will be increased from 6 to 7.5 million tons of oil per year.
SOCAR announced the liquidation of Azneftyag oil refinery and its merger with the Heydar Aliyev Baku Oil Refinery in 2015. This decision was made as part of the work to improve and optimize SOCAR's structure.
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