Construction of SOCAR-GPC complex, consisting of gas processing and polymer factories, in Garadagh district is planned to commence in the late first quarter of 2020, Financial Director at SOCAR Polymer Rauf Guliyev said at the 4th SOCAR International Caspian and Central Asia Downstream Forum – Trading, Logistics, Refining, Petrochemicals in Baku.
According to him, the final investment decision of the project is expected in the 4th quarter of this year.
He said SOCAR-GPC is planned to be launched in the third quarter of 2023: "Negotiations on the financing are underway. FEED (Front End Engineering Design), geotechnical, topographic and other works have been completed, 250 hectares of land were allocated. The products are planned to be exported to Turkey, Iran, Central and Western Europe, China, Russia and other countries."
According to him, $1 billion is forecasted to get from the project per year.
The complex will annually produce 9.1 billion cubic meters of purified gas, 600,000 tons of low-and high-pressure polyethylene, 130,000 tons of propylene, 42,000 tons of benzene, and 25,000 tons of gasoline. Moreover, 32,000 tons of butene-1 and 21,000 tons of hexene-1 will be produced for internal use.