Azerbaijan announces plans for polypropylene exports by late 2018 (UPDATE)
Details added (first version published at 10:37)
Baku, Azerbaijan, Oct. 5
By Ilkin Shafiyev - Trend:
Azerbaijan's SOCAR Polymer LLC plans to export 15,000 tons of polypropylene by the end of 2018, the Director General of the company Farid Jafarov told reporters October 5.
"Our export markets are Turkey, Russia, European countries. Turkey is a priority market. This country is the second largest importer of polymers after China. At the same time, in general, our domestic market is a priority, where, we are sure, the demand will grow. We plan to send to the domestic market 30 percent of the produced polypropylene, and 35-40 percent of high-density polyethylene.
He noted that the release of high-density polyethylene is scheduled to begin in mid-December.
The SOCAR Polymer project is implemented in Sumgait Chemical Industrial Park. At the first stage, the SOCAR Polymer’s production capacity will be 120,000 tons of polyethylene and 180,000 tons of polypropylene. By 2021, the total capacity can reach 570,000 tons of products.
The plant will produce 19 types of products from polypropylene and 12 types of products from high density polyethylene. The products will be used, in particular, in the food and medical industries, as well as in agriculture and car manufacturing.
The total investment costs of the project are estimated at $816 million. The loan in the amount of $ 489 million has been allocated to SOCAR Polymer company by the Russian Gazprombank for a period of 10 years.
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