BAKU, Azerbaijan, May 8. Caspian Lubricants Recycling company with Bulgarian capital, which received a certificate (resident status) of the Sumgayit Chemical Industrial Park (SCIP), intends to process 24,000 tons of used industrial oils annually in Azerbaijan, and a similar project will be implemented for the first time in the country, the head of Caspian Lubricants Recycling, CEO of the Bulgarian Torec Engineering company Kalin Runtev told Trend.
"We plan to recycle used motor and industrial oils and produce diesel fuel, bitumen, and base oil from them using the latest technology. Industrial base oil is currently not produced in Azerbaijan and is imported. Therefore, this project will allow us to abandon its importation as well as implement such a 'green' component as the recycling of used industrial oils. SCIP is ideally suited for the implementation of such a project," explained Runtev.
According to him, a network will be established for collecting used oils in Azerbaijan.
"We plan to commission an enterprise worth more than 13 million manat ($7.6 million) at the SCIP site in 2025. We plan to export half of the products made," emphasized Runtev.
He added that used industrial oils are considered hazardous waste worldwide (along with pesticides, used rubber, and batteries), and therefore it is very important that through the Caspian Lubricants Recycling cyclic project, such oils will be processed into demanded end products.
Meanwhile, this company became the 41st resident of SCIP. The enterprise in Sumgayit will generate permanent jobs for 54 people.
Torec Engineering has implemented similar projects in Bulgaria itself, as well as in Ukraine and Uzbekistan.
