SOCAR Polymer plans to produce 20-24 thousand tons of high density polyethylene in 2018. This was announced by the head of the planning department of the company Vugar Aslanov at the conference devoted to the expansion of import-substituting production.
“The new SOCAR Polymer plant for the production of high density polyethylene in Sumgait will be commissioned in the third quarter of 2018, approximately in September. In general, in 2018 this enterprise will produce 20-24 thousand tons of products, and already in 2019 the plant will reach full capacity of 120 thousand tons of polyethylene per year,” Aslanov said. According to him, at present, the work on the project is fulfilled by 87.7%.
In 2018 SOCAR Polymer also expects to produce 70-71 thousand tons of polypropylene at the new plant under construction in Sumgait, which is scheduled to be put into operation in June, Aslanov said.
In 2019, according to the schedule, the plant will reach full capacity, and 180 thousand tons of polypropylene will be produced during the year, Aslanov said.
He said that currently work on the project for the construction of a plant for the production of polypropylene has been carried out at 97.2%. Both plants will use natural gas as raw materials. SOCAR Polymer owns 51% of the shares of SOCAR, and the remaining 49% are divided among private enterprises of Azerbaijan: Pasha Holding, Gilan Holding, and Azersun Holding.
The company is engaged in the construction of a polypropylene plant in Sumgait with a capacity of 180,000 tons per year and high-density polyethylene with a capacity of 120,000 tons per year.
The total cost of the projects is $ 750 million; 40% are financed by the shareholders of SOCAR-Polymer, and the rest – by Gazprombank JSC.