About 100,000 tons of high-density polyethylene will have been produced by the end of 2019, Director General of SOCAR Polymer LLC Farid Jafarov announced.
Jafarov noted that the plant for the high-density polyethylene production would reach its design capacity within the next two months.
As for polypropylene, Jafarov said that its production volume by the end of 2019 would be about 140,000 tons.
About 75% of the production will be exported.
In particular, Jafarov said, the export of high-density polyethylene would begin next month. Polypropylene, in turn, is already supplied to the markets of Russia, Ukraine, Belarus and Turkey. The general director further noted that about 25,000 tons of polypropylene had already been exported.
“In the near future, these products are expected to be exported to the markets of European countries, China and India, as well. It is planned to sell high density polyethylene to the same countries,” he added.
Jafarov underlined that the products manufactured by SOCAR Polymer would fully cover the country’s internal needs.
SOCAR Polymer was established in 2013. On October 25, 2015, with the participation of President Ilham Aliyev, the foundation of the SOCAR Polymer plants was laid. The opening of the polypropylene plant took place on July 18, 2018, while the plant for the production of high-density polyethylene was commissioned February 18.
According to preliminary forecasts, SOCAR Polymer plants will produce 184 tons of polypropylene of ten types and 120,000 tons of four types high-density polyethylene per year. The expected profit during the operation of the plants is in the amount of $6.6 billion, 30% of which will be the net income of the company. (Trend/Business World Magazine)