SOCAR plans to begin construction of a new gas refinery to the south of Baku in mid-2014, a source from SOCAR told Turan.
The plant will be a part of a new petrochemical and oil refining complex (OGPC) with the initial cost of $17 billion (together with the bank interest rates).
SOCAR's representative also said that feasibility study of the gas refinery must be completed by the end of 2013. By that time it is planned to summarize results of the tender for construction of the future project. Then preparation for construction will begin and the actual construction works will begin in summer 2014.
The initial capacity of the gas refinery will be 6 billion cub.m. a year and then it is planned to double the refining capacity.
The new gas refinery will be built on the border of two regions - Baku's Garadag and Absheron. It will be located 60 km south of Baku.-0-
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