Baku, Azerbaijan, April 23
By Ali Mustafayev - Trend:
Plants for the production of polypropylene and polyethylene as part of the SOCAR Polymer project’s implementation will be launched in the second and third quarters of 2018, said Fuad Ahmadov, deputy director of SOCAR Polymer, a polymer plant of Azerbaijan’s state oil company SOCAR.
He was speaking at the 3rd SOCAR International Caspian and Central Asia Downstream Forum on Trading, Logistics, Refining and Petrochemicals in Baku April 23.
He noted that the launch of a polypropylene plant, the construction of which is completed by 96.7 percent, is expected in June 2018.
This is while the launch of a polyethylene plant, the construction of which is completed by 80.1 percent, is expected in the third quarter of 2018, he added.
“The cost of the SOCAR Polymer project is $800 million, and it is aimed at producing the currently demanded products made of polyethylene and polypropylene, which will be exported to the markets of Turkey and CIS member countries in the future, and also will be used in Azerbaijan’s domestic market,” Ahmadov said.
He noted that the government of Azerbaijan renders great support in implementing the company’s project, exempting the company from such taxes as VAT and others.