SOCAR Polymer was founded on July 16, 2013 in order to reinforce the development of the chemical industry of the country. The company’s production facilities consisting of Polypropylene (PP) and High Density Polyethylene (HDPE) plants are located within the territory of the Sumgayit Chemical Industrial Park (SCIP). With 184 and 120 KTA of production capacity respectively, the PP and HDPE plants were put into operations in July 2018 and February 2019, respectively.
SOCAR Polymer's PP and HDPE plants are located within the territory of SCIP. SCIP supports innovative industrial initiatives in Azerbaijan via tax exemptions, full infrastructure support and single-window approach to permit issuing.
SOCAR Polymer’s Polypropylene and High-Density Polyethylene plants will be the first of their kind in Azerbaijan, enabling the growth of the domestic petrochemical industry through development of production for this segment of the plastics market.
For the implementation of the project, SOCAR Polymer has engaged an EPC contractor – the Italian engineering company, Tecnimont. Another leading engineering company, Fluor, has been engaged as a PMC contractor to supervise the EPC contractor’s performance. Another goal of the PMC contractor is to develop local engineers' professional capacities. To do so, an integrated project management team (IPMT) has been established. Fluor has introduced special professional development programs, with specialized trainings for local engineers and other employees, provided in Amsterdam, Milan and Mumbai.
SOCAR Polymer is the first project in Azerbaijan have been implemented on the basis of the non-recourse project financing principles, without a guarantee from the parent company. Its implementation is expected to create a multiplication effect in many important sectors of Azerbaijan’s economy, with a huge number of new job openings created.