23 August 2012 16:59 [Source: ICIS news]
LONDON (ICIS)--The State Oil Company of the Azerbaijan Republic (SOCAR) hopes the Georgian economy ministry will grant free industrial zone status to the site where it plans to build a urea plant, SOCAR said on Thursday.
Latest plans for the 700,000 tonne/year urea installation, to be located between the ports of Poti and Kulevi on the Black Sea coast, envisage the status being granted before the end of this year with construction of the plant and infrastructure subsequently starting in 2013, SOCAR added.
SOCAR intends to build two identical urea plants, namely the plant in Georgia and another in Sumgait, in the company's neighbouring home country of Azerbaijan, near the premises of its petrochemical subsidiary, Azerikimya.
The urea output from the plant in Georgia, as well as about one-half of the urea production — in all, just over 1m tonnes per year — from the installation in Azerbaijan should be sold on the Turkish and other Black Sea regional markets, with the remainder earmarked for home sales, SOCAR said.
The company has not disclosed the estimated cost of the two urea plants.
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