The SOCAR company (The State Oil Company of Azerbaijan Republic) and the Russian GazpromBank have signed a Collection of basic conditions for a loan of US$420 million for the SOCAR POLYMER project, implemented in Sumgait Chemical Industrial Park, as per a company note. The SOCAR POLYMER project comprises of a 200,000 tpa polypropylene and a 120,000 tpa of polyethylene plant.
The loan has been allocated to the Azerbaijani company for ten years and Gazprombank will not demand any guarantees for this loan. Gazprombank has also opened a credit limit for SOCAR of US$2 bln.
15-Dec-14 
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