The unit will meet SOCAR Polymer’s needs for high-purity nitrogen gas during the project implementation.
"Signing of this agreement is an example of strategic partnership and cooperation between Gazprombank Group and SOCAR Group," Abdullayev said.
According to the message, the unit is based on the most advanced technical and engineering solutions in the industry, which are reducing the capital costs and ensuring more cost-effective modes of operation compared to the equipment of the leading foreign companies.
SOCAR Polymer project is implemented in the Sumgayit Chemical Industrial Park.
The polypropylene production plant will be commissioned in the first quarter of 2018, and the polyethylene plant – in the third quarter of 2018.
At the initial stage, the plants will produce 120,000 tons of polyethylene and 180,000 tons of polypropylene and the total capacity may reach 570,000 tons by 2021.
Thirty percent of the plant’s output will be sent to domestic market, while 70 percent – for export to Turkey, Europe and CIS countries, according to project estimates.
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