Baku, Azerbaijan, May 29
By Sara Israfilbayova – Trend:
Until today, SOCAR Polymer plant has supplied 450 tons of polyethylene to Russia, the plant told Trend on May 29.
SOCAR Polymer stressed that 50 tons of products were supplied to the local market.
SOCAR Polymer was established in 2013. The foundation of the SOCAR Polymer plants was laid with the participation of Azerbaijani President Ilham Aliyev on October 25, 2015. The polypropylene plant opened on July 18, 2018, while the plant for the production of high-density polyethylene was commissioned on February 18, 2019.
According to preliminary forecasts, SOCAR Polymer plants will annually produce 184 tons of polypropylene of ten types and 120,000 tons of four types high density polyethylene. The profit worth $6.6 billion is expected to be obtained during the operations, 30 percent of which will account for the net income.
SOCAR Polymer mainly focuses on the markets of Russia, Turkey, Eastern Europe and China.
Follow the author on Twitter: @IsrafilbekovaS