BAKU, Azerbaijan, Nov. 3
By Fidan Babyeva - Trend:
Azerbaijan’s SOCAR Polymer LLC ranked first on exports in the private sector over the first nine months of 2020, Trend reports citing the Export Review of the Center for Analysis of Economic Reforms and Communication (CAERC).
In 9M2020, SOCAR Polymer exported products worth $84.7 million abroad.
According to CAERC, the export of SOCAR Polymer’s products increased by 32.9 percent or by $21 million years on year.
SOCAR Polymer is the first large-scale project implemented in the petrochemical industry of Azerbaijan over the past 40 years.
The project, aiming at accelerating the development of the chemical industry in Azerbaijan, was launched in 2013. The company's production facilities consist of two plants for the production of polypropylene and high-density polyethylene, located in the Sumgait Chemical Industrial Park LLC. The plants were commissioned in 2018 and 2019, respectively.
The successful results of this project are expected to create multiplier effects in many important sectors of Azerbaijan's industry and generate numerous jobs.