Azerbaijan, Baku, April 17 /Trend, E.Ismayilov/
SOCAR (State Oil Company of Azerbaijan) intends to establish in Azerbaijan the production of finished chemical products due to reducing exports of chemical raw materials, SOCAR vice president on environment, Mukhtar Babayev said on April 17.
In fact, chemical raw materials are exported from Azerbaijan, and later returned to the country in the form of finished chemical products with a higher cost.
"The chemical complex in Sumgait has a great export potential. 95 percent of products manufactured here (raw material) is exported. We must try to make this figure lower. We want to increase local production of finished products," Babayev said.
Together with work on the modernization of Azerkimya, SOCAR also intends to establish chemical industrial park here. Due to this industrial park, SOCAR intends to organize production of finished chemical products in the country.
There are plans that a large number of small enterprises will be established in the industrial park, which will be involved in the production of finished chemical products from raw materials produced by Azerkimya. These small enterprises will be able to manufacture products similar to those which are imported to Azerbaijan. Every year the country imports about 60,000 tons of finished chemical products.
The SOCAR vice president said that small enterprises, which will be located here, will not belong to SOCAR, but private companies. For this purpose, to attract private capital SOCAR is working with the Ministry of Economic Development.
"It will not be very expensive production, so the private business will be able to attend. Through small businesses, production of finished chemical products will be established in Azerbaijan," said Babayev.