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Azerbaijani company starts to supply polypropylene to Russia

Oil&Gas Materials 25 November 2019 19:01 (UTC +04:00)
Azerbaijani company starts to supply polypropylene to Russia

BAKU, Azerbaijan, Nov. 25

Trend:

Azerbaijan supplied first batch of polypropylene for the production of packaging film to Russia’s Volgodonsk city, Trend reports referring to Don-24 Russian information agency.

“Azerbaijani SOCAR Polymer company has already delivered the first batch of polypropylene to Rostov for high-speed biaxial film production lines at the Volgodonsk Waterfall enterprise,” Governor of Rostov region Vasily Golubev said. “This project was the first step towards the long-term cooperation in a new high-tech field. In accordance with the expert estimates, the supply volume will exceed 1.5 billion rubles (0.02 cents)."

The governor also said that the 'Donetsk Excavator' intends to sign a contract for the supply of agricultural equipment to Baku till late 2019.

SOCAR Polymer company was established in 2013. The foundation of SOCAR Polymer company’s plants was laid on October 25, 2015 with the participation of Azerbaijani President Ilham Aliyev. The polypropylene plant opened on July 18, 2018 while the plant for the production of high density polyethylene – on February 18, 2019.

SOCAR Polymer company was established by the Azerbaijani State Oil Company SOCAR. Presently, SOCAR's share in the company’s capital is 52.2 percent. Other shareholders are Vitol Black Sea V.L.L (19 percent), PASHA Holding (9.9 percent), Ecoland (9.8 percent), Polymer Investment (5 percent) and AKKIK (4.1 percent).

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