Azerbaijan’s SOCAR Polymer to significantly increase non-oil exports
Baku, Azerbaijan, Aug. 7
By Sara Israfilbayova – Trend:
The SOCAR Polymer plant belonging to the Azerbaijani state oil company SOCAR exported about 52 tons of polypropylene and polyethylene over the first half of the year, deputy head of SOCAR public relations and events department Ibrahim Ahmadov told Trend.
According to him, the products are mainly exported to Turkey, Russia, Ukraine, Belarus, Poland and Lithuania.
"SOCAR Polymer will produce 300,000 tons of products annually, 75 percent of which are planned to be exported," he said.
Ahmadov also noted that preliminary estimates suggest that the launch of the complex will facilitate a 15-percent growth in revenues from exports of Azerbaijan's non-oil sector, and the GDP of the Absheron Economic Region will increase by 14 percent.
Oil refineries are vertically integrated into SOCAR, due to which a single production chain is created, starting from the production of raw materials and ending with final products. The Heydar Aliyev Baku Oil Refinery, the Ethylene-Polyethylene plant of the Azerkimya Production Association and the SOCAR Polymer enterprise are included in a single production process.
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.
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