High-density polypropylene and polyethylene output expected to start in 2016

27-Sep-13

Production of High density polyethylene and polypropylene in Sumgayit -- an industrial city located close to the Azerbaijani capital Baku -- will be launched in 2016, a source at the state energy company SOCAR told Trend news agency. According to the source, the construction of two new plants will be completed in 2015. In 2012, SOCAR signed a contract on the construction of a plant producing high-density polypropylene and polyethylene with annual capacity of 200,000 and 100,000 tons respectively. The construction of these facilities is planned in the Sumgayit Chemical Technology Park. The SOCAR Polimer enterprise with authorized capital of $51 million has been established for the implementation of these projects. The state energy company plans to keep its share in the project at 51% and the balance will be offered to privately owned companies.