Azerbaijan’s state oil company SOCAR will continue to be a driver of development of the country’s chemical industry, President of SOCAR Rovnag Abdullayev said.
He made the remarks at an event dedicated to the presentation of products of SOCAR Polymer OJSC in Baku Apr. 14, Trend reports.
“Azerbaijan’s chemical industry has a great future, and private companies will be able to implement their own projects in this sphere soon,” he said.
He noted that the chemical industry is very important for Azerbaijan.
“Chemical industry has always been a traditional industry in Azerbaijan,” Abdullayev said. “There are great opportunities for its development. After the acquisition of Turkey’s Petkim petrochemical complex, SOCAR entered the chemical market and gained a lot of experience.”
“The Azerikimya Production Union turned into a profitable enterprise after it became a part of SOCAR,” he added.
Abdullayev noted that the experience gained allowed to start such a project as SOCAR Polymer.
“Companies that operate in other sectors of the Azerbaijani economy joined this project and became a part of it,” he said.