Baku, Azerbaijan, July 24
By Ilkin Shafiyev – Trend:
The commissioning of the polypropylene plant of SOCAR Polymer will allow for creating $500-600 of added value per ton of products, the company told Trend July 23.
"Azerbaijan has been previously exporting propylene. The propylene will be processed at the plant into polypropylene, which will be exported. This will allow for creating an added value of $500-600 per ton of products," SOCAR Polymer noted.
The SOCAR Polymer project is implemented at the Sumgayit Chemical Industrial Park. The production capacity of SOCAR Polymer at the first stage will be 120,000 tons of polyethylene and 180,000 tons of polypropylene. The total capacity can reach 570,000 tons of products by 2021.
The plant will manufacture 19 types of polypropylene products and 12 types of high-density polyethylene products. The products will be used, in particular, in the food and medical industry, as well as in agriculture and automobile production.
The total investment costs in the framework of the project are estimated at $816 million.
Some $489 million of credit have been allocated to SOCAR Polymer for a period of 10 years by the Russian "Gazprombank".
---
Follow the author on Twitter: @IlkinShafiyev