About 200M saved during implementation of SOCAR Polymer project - CEO
28 July 2018 16:00 (UTC+04:00)
Trend:
Some 200 million manats were saved during implementation of the
SOCAR Polymer project, said Farid Jafarov, General Director of
SOCAR Polymer LLC.
Jarafov made the remarks July 28 during the event entitled as
"Organization of the production chain from raw materials to final
products".
He noted that the local market is the priority for the
company.
"Azerbaijani enterprises will be able to use the factory’s
products as final products. We are ready to provide them with
technical support and establish partnerships with them," Jafarov
said.
The SOCAR Polymer project is being implemented at the Sumgayit
Chemical Industrial Park. The production capacity of SOCAR Polymer
factory at the first stage will amount to 120,000 thousand tons of
polyethylene and 180,000 tons of polypropylene. The total capacity
of the factory can reach 570,000 tons of products by 2021.
The factory will produce 19 types of products made of
polypropylene and 12 types of products made of high-density
polyethylene. The products will be used, in particular, in the food
and medical industry, as well as in agriculture and automobile
production.
The total investment costs of the project are estimated at $816
million. The credit in the amount of $489 million has been
allocated to SOCAR Polymer by Russian "Gazprombank" for a period of
10 years.
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