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About 200M saved during implementation of SOCAR Polymer project - CEO

28 July 2018 [16:01] - TODAY.AZ

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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.

URL: http://www.today.az/news/business/172362.html

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