Launch date of polypropylene plant within SOCAR Polymer project announced
Baku, Azerbaijan, July 17
By Ilkin Shafiyev – Trend:
Azerbaijan’s Sumgait city will host the official opening ceremony of the polypropylene plant as part of the SOCAR Polymer project on July 18, a source in the Azerbaijani government told Trend July 17.
Production capacity of the plant is 180,000 tons of products per year.
Earlier, it was reported that in the third quarter of this year, it is planned to launch a polyethylene production plant, the second one as part of the SOCAR Polymer project.
It was also reported that by 2018 the SOCAR Polymer company forecasts revenues at about $60 million, by 2019 – at about $290 million, by 2020 – at about $340 million. By 2021, SOCAR Polymer forecasts revenues of $370 million.
At the same time, majority of the revenues are planned to be received from the sale of polypropylene.
The SOCAR Polymer project is being implemented in the Sumgait Chemical Industrial Park (SCIP). 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.
Follow the author on Twitter: @IlkinShafiyev