SOCAR Polymer PP plant capacity 180 thousand tons - Arhive

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SOCAR Polymer will open PP plant today with a capacity of 180 thousand tons   SOCAR Polymer PP plant capacity 180 thousand tons

 

SOCAR Polymer  PP plant capacity 180 thousand tonsMOSCOW – SOCAR Polymer, the “daughter” of the State Oil Company of Azerbaijan (SOCAR), intends to hold today the opening ceremony of the plant for the production of polypropylene (PP) in Sumgayit Chemical Industrial Park, Trend reports.

Production capacity of the plant is 180 thousand tons of products per year.

Earlier it was reported that in the third quarter of this year it is planned to launch a second plant within the framework of the SOCAR Polymer project – the production of polyethylene.SOCAR Polymer PP plant capacity 180 thousand tons

Also, it was noted that by the end of 2018 SOCAR Polymer forecasts revenues of approximately USD60 million, by the end of 2019 – about USD290 million, by the end of 2020 – about USD340 million. By the end of 2021 SOCAR Polymer forecasts revenues at USD370 million. This is the main part of the proceeds from the sale of polypropylene.

The SOCAR Polymer project is being implemented in the Sumgait Chemical Industrial Park. At the first stage, the production capacity of SOCAR Polymer will be 120,000 tons of polyethylene and 180,000 tons of polypropylene. By 2021, the total capacity can be 570 thousand tons of products.SOCAR Polymer PP plant capacity 180 thousand tons

According to project estimates, 30% of the plant’s output will be sent to the domestic market, 70% – for export to Turkey, Europe and CIS countries.

Earlier it was reported that the total cost of the projects is USD750 million, 40% are financed by the shareholders of SOCAR-Polymer, the rest – by Gazprombank. The agreement on financing the construction of SOCAR Polymer plants between SOCAR and Gazprombank was signed on June 19, 2015.SOCAR Polymer PP plant capacity 180 thousand tons

SOCAR Polymer was established by the State Oil Company of Azerbaijan. Currently, the share of SOCAR in the company’s capital is 57%. Among the shareholders are also Vitol Black Sea VL L LLC, Ecoland LLC and a number of other companies.

mrcplast.ru

Author:                Anna Larionova

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