SOCAR Polymer Company in the first quarter of 2018, plans to put into operation a plant for the production of polypropylene, in the third quarter - a plant for high-density polyethylene.

Director General of SOCAR Polymer Farid Jafarov at the ongoing conference in Baku SOCAR "Caspian Sea and Central Asia: Trade, Logistics, Refining and Petrochemicals".

F.Jafarov noted that the installation will produce a total of 300 thousand tons of products per year, including 180 thousand tons of polypropylene and 120 thousand tons of high density polyethylene. Director General reminded that 30% of production is intended for sale on the domestic market, 70% for export to Turkey and Europe.

He said that 40% of the project funded by the shareholders, 60% by Russian OJSC "Gazprombank". He stressed that all of the project requirements have been completed.

Notably, SOCAR Polymer company established July 16, 2013 in order to accelerate the development of the chemical industry in Azerbaijan. Construction of complexes for the production of polypropylene (PP) and high density polyethylene (HDPE) is carried out on the territory of Sumgayit Chemical Industrial Park.