EUPEC PipeCoatings GmbH of Germany has sold its shares in EUPEC PipeCoatings Azerbaijan LLC to the State Oil Company of Azerbaijan Republic (SOCAR), Trend reports with reference to the statement of EUPEC. The name of EUPEC Azerbaijan will be changed to "CASPIAN PipeCoatings LLC. The Company signed the coating contract with SOCAR for the CWC coating of 46km of underwater gas pipeline.
The Company has signed the coating contract with AIOC for the CC and CWC coating of roughly 190 km of water pipeline.
The concrete plant had been opened in Baku on June 19, 2002. $15 mln. was invested in to it. The equipments had been brought from Germany (for anti-corrosion covering) and USA (concrete covering).