30 October 2012 17:12 [Source: ICIS news]
LONDON (ICIS)--Belarus has pledged to assist Azerbaijan with its ambitions to build modern petrochemical complexes, the State Oil Company of the Azerbaijan Republic (SOCAR) said on Tuesday.
Following a visit from Belarussian first deputy prime minister Vladimir Semashko, who visited SOCAR chemical subsidiary Azerikimya in Sumgait - a city located by the Caspian Sea about 30 kilometres away from Azerbaijani capital Baku where SOCAR is building a petrochemical industrial park - SOCAR said Belarus would provide technological and possibly investment cooperation.
SOCAR specialists would visit Belarus in November to explore the country's petrochemical expertise, SOCAR said.
The cooperation would contribute to the creation of the Sumgait petrochemical site, where SOCAR intends to establish polypropylene (PP) and low density polyethylene (LDPE) production by 2014, and a more ambitious plan to build a $15bn (€12bn) refining-gas-petrochemicals complex outside Baku, the company added.
The latter complex, named the Oil and Gas Processing and Petrochemical Complex (OGPC), is to include PE and PP installations with capacities of 670,000 tonnes/year and 550,000 tonnes/year, along with a 10m tonne/year oil refinery and a 10bn cubic metre/year gas processing plant.
($1 = €0.78)
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