BAKU, Azerbaijan, Dec. 26
By Anastasia Savchenko - Trend:
Next year, there are plans to complete the design of a new urea plant in Azerbaijan, which began this year, Ibrahim Ahmadov, deputy head of the Public Relations and Event Management Department of Azerbaijan’s state oil company SOCAR, told Trend.
Ahmadov was commenting on the issue regarding SOCAR’s plans for 2020.
The deputy head said that an engineering project will be prepared and presented to the company’s management, and then a decision will be made on the construction of a new urea plant in the Sumgait Chemical Industrial Park.
“It is also planned to complete modernization of the Ethylene-Polyethylene plant of the Azerikimya Production Union closer to the middle of next year,” Ahmadov noted.
The deputy head added that the company’s plans also include adoption of investment decisions in connection with the construction of an aromatic substances plant in Turkey, on the Aliaga Peninsula next to the Petkim petrochemical complex and the STAR oil refinery.
“The project will be implemented jointly with BP,” Ahmadov said. “This year, the primary engineering project was being prepared, and the investment decisions will be made at the beginning of 2020.”
Petkim manufactures plastic packaging, fabrics, PVC, detergents, and being the only Turkish manufacturer of these products, the company exports a quarter of its production.
The complex includes 14 factories manufacturing 20 different types of products. Petkim's production capacity is 3.6 million tons per year.
Equity participation of shareholders in the complex’s capital is as follows: SOCAR Turkey Petrokimya A.S. - 51 percent, and 49 percent of the shares are in free float on the stock exchange.
On Oct. 19, 2018, the opening of the SOCAR’s STAR oil refinery worth $6.3 billion took place in Izmir. The design capacity of the plant is 10 million tons, and SOCAR is the main supplier of raw materials for the enterprise.
The enterprise will reduce Turkey's dependence on imports of petrochemical products.
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