The cost of upgrade of the plants of Azerkhimiya company is estimated at $300 million, SOCAR Vice President for Strategic Development Tofig Gakhramanov told journalists.
‘The upgrade has already started and it should be fully completed in 2018-2019. Italian Technip Italy company is involved in the project implementation. The works are estimated at about $300 million,” Gakhramanov added.
He said that ethylene-polyethylene plant of Azerkhimiya must supply the new plants manufacturing high density polyethylene and polypropylene, which SOCAR Polymer company has been building in Sumgait, with ethylene and propylene.
“As the EP-300 installation on the Ethylene-Polyethylene plant is outdated, we need to upgrade the plant to ensure its efficient operation,” said Vice President.
Technip Italy is contractor of Azerkhimiya and it will perform the primary works of detailed engineering and logistics as a part of upgrade of the Ethylene-Polyethylene plant.
Launching of the plants manufacturing polypropylene with the capacity of 180,000 tons a year and high density polyethylene with the capacity of 120,000 tons a year is planned in 2018.—0—
Economics
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