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 under construction within the territory of the Sumgayit Chemical Industrial Park (SCIP). With 184 and 120 KTA of production capacity respectively, the PP and HDPE plants will start operations in 2018.
PP and HDPE plants are under construction 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. 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 to be implemented on the basis of the non-recourse project financing principles, without a guarantee from the parent company. The implementation of the SOCAR Polymer project will create a multiplication effect in many important sectors of Azerbaijan’s economy, with a huge number of new job openings created.