Azerbaijan Working Over Attraction of Investments to Petrochemical Sector: Azerbaijani Minister
Azerbaijan, Baku / corr Trend A.Ismayilova / Natig Aliyev, the Azerbaijani Minister for Energy and Industry, stated in Baku on the 19th of June that at present, Azerbaijan is working on the application of new technology and the attraction of investment for the development of the petrochemical industry of the country.
At present the per-chemical industry is based only on the Ethylene - Polyethylene 300 rig.
Touching upon the issue on the construction of a new petrochemical complex of Azerbaijan, the minister stated that it is essential for Azerbaijan to develop a special program.
"For the time being there is a break in the proceedings of construction, whilst the plans for analyzing of the petrochemical field take place," he stressed.
The construction of the petrochemical complex will take ten years to complete. During the first stage it will be possible to achieve production, at the second stage an expansion in the types of products produced, at the third stage a more flexible expansion. The first stage is probable to take two-three years after the adoption of the relevant decision.|
One of the variants of the place of dislocation of petrochemical complex is its placement in Sumgayit in the territory of exiting chemical plants.
The initial cost of the establishment of the project for the petrochemical complex in Azerbaijan is $500mln. The general estimation will be clarified in the final report.