Baku, Azerbaijan, June 2
By Emil Ismayilov - Trend:
A plant for polypropylene production, which will be built in Sumgait Chemical Industrial Park, and with the joint activities of SOCAR Polimer, will start operations in 2016, head of the Azerkimya production association of the Azerbaijani State Oil Company, Mukhtar Babayev told Trend.
Within the framework of the construction of the polypropylene plant, most of the equipment has already been delivered and at present, detailed designing and preparation of the construction area are being implemented, he said.
As to the construction of a plant for the production of low pressure polyethylene, Babayev said that its commissioning will be in the beginning of 2017.
"Initial operational capacity of the polypropylene plant makes up 150,000 tonnes, and the plant for the production of low density polyethylene -100,000 tonnes per year," he said.
The authorized capital of the "SOCAR Polimer" which has been created within the framework of the development of polymer production in Azerbaijan has been raised from 51 to 100 million manats.
SOCAR has already transferred 25.5 million manats within the framework of increasing authorized capital of the facility, as the other shareholders the composition of which has already been formed, according to Babayev.
SOCAR, which is a 100 percent-founder of the plant, sold 49 percent of the authorized capital to private companies.
Edited by CN
