BAKU, Azerbaijan, Feb. 2
By Nargiz Ismayilova - Trend:
Carbamide Plant of Azerbaijan's State Oil Company SOCAR exported about 115,000 tons of urea (carbamide) in 2019, Ibrahim Ahmadov, deputy head of the SOCAR Public Relations and Event Management Department, told Trend.
According to Ibrahim Ahmadov, the urea was exported mainly to Turkey, as well as to Ukraine, Bulgaria, Romania, Brazil and other countries in 2019.
"SOCAR Carbamide intends to expand the list of export destinations. However, it will depend on the demand for urea in different countries of the world, as well as the economic feasibility of delivery to certain countries," Ahmadov said.
The plant produced a total of about 171,000 tons of urea in 2019. According to forecasts, SOCAR Carbamide will produce about 500,000 tons of urea in 2020, of which about 450,000 tons are expected to be sold on the international market while about 50,000 tons will fell to the share of the domestic market.
The SOCAR Carbamide Plant was commissioned on Jan. 16, 2019. The plant contains production sites for the production of ammonia, carbamide and carbamide granules, with 1,200 tons of ammonia and 2,000 tons of carbamide to be produced daily. The company expects to receive up to 160 million dollars from exports annually.
The total cost of the plant’s construction amounts to 780 million euros, 197 million euros of which were allocated from the state budget of Azerbaijan, 500 million euros were provided via borrowed funds, and 80-85 million euros were allocated from tax and other deductions to the budget during construction, which SOCAR paid for from its own funds.
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