The Azerbaijani government studies the possibility of construction of the plant for production of synthetic motor oils on the territory of the Sumgait chemical industrial park.
Interfax reported that investments into the project are estimated at $350 million.
“It planned to produce synthetic motor oils on the new plant using GTL technology of conversion of natural gas into liquid form. GTL could be also used for production of other type of chemical products. Feasibility study of the project is under preparation and it could be built on the territory of the park with participation of foreign investors,” said sources from the government.
According to preliminary estimates, the project implementation could take two years and it could be paid off within 8 years.
Currently seven companies have the status of residents of the Sumgait chemical industrial park and their investments into the projects on the territory of the park are estimated at $1.1 billion.—0—
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