SOCAR reconsiders postponed project in Georgia

SOCAR reconsiders postponed project in Georgia
# 27 April 2017 11:12 (UTC +04:00)

“We postponed construction of carbamide plant in Georgia, but the project was not removed from the agenda and we may reconsider this issue in the future. We can construct that plant in Georgia. We are experienced in this field”, Jafarov said.

 

According to him, 82% works have already been completed in Sumgayit carbamide plant: “In December 2017 technical works will be completed in the plant”.

 

Jafarov noted that the plant will be handed over to SOCAR in the second quarter of 2018: “300-350 people will work in the plant”.

 

Jafarov stressed that the plant will produce 650-660,000 tonnes of carbamide in a year: “At the first stage 150,000 tonnes of carbamide will be sent to the domestic market. In the future, it may reach 200,000 tonnes. Remaining products will be exported to Turkey, Georgia, Black and Mediterranean Sea countries”.

 

Regarding total worth of the project makes up €498 million. €500 million was attracted for realization of the project. Of this, €249 million was allocated by Korea Eximbank (KEXIM) and €251 million by UniCredit, Societe Generale and Deutsche Bank under the guarantee of KEXIM. 

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