Ministry of Economy of Azerbaijan is holding talks with potential customers of SOCAR Polymer facility's production, Deputy Economy Minister Niyazi Safarov said during the conference, dedicated to the expansion of import-substituting manufacturing in industry with use of the domestic raw materials.
“We started to search for potential customers of SOCAR Polymer production. Talks with 15 companies are ongoing, but the number will increase in future. Right now there is a demand for 50,000 tons of polyethylene as a result,” the official added.
The cost of SOCAR Polymer project totals $750 million. The project is carried out in Sumgayit Chemical Industrial Park.
At the first stage, production capacity of SOCAR Polymer will total 120,000 tons of polyethylene and 180,000 tons of polypropylene. The total capacity may reach 570,000 tons by 2021.