SOCAR and UNIPER sign two agreements

Baku. 25 May. REPORT.AZ/ Today 3rd meeting of the Coordinating Committees of the State Oil Company of Azerbaijan Republic (SOCAR) and German UNIPER (EON) companies has been held at Sumgayit 'Azerikimya' Production Union.

Report informs, opening the meeting SOCAR President Rovnag Abdullayev welcomed the guests. Presentations by SOCAR Vice President on staff, regime and information technologies Khalik Mammadov and UNIPER Vice President Uwe Fip on the joint projects, which carried out for training of specialists having high knowledge, theoretical, scientific and practical potential as well as projects in other fields, have been heard.

Mukhtar Babayev, Chairman of 'Azerikimya' PU Supervisory Board provided information to the attendees on the new projects, implemented in the union.

During the event, SOCAR and UNIPER companies have signed an agreement on establishment of a 'SOCAR-UNIPER' joint venture for steam turbine generator unit production. According to the agreement, SOCAR will own 51% of the joint venture, while 49% will belong to UNIPER.

Then, Initial Project Agreement has been signed on construction of new steam turbine generator unit production. It was stated that the construction of the unit is aimed at increasing energy efficiency of Steam Generator Complex at 'Azerikimya' Ethylene-Polyethylene Plant as well as at production of additional power.

Notably, the agreements have been signed by SOCAR President Rovnag Abdullayev and UNIPER President Klaus Schäfer.