Azerbaijan spent 400 mln EUR for Carbamide Plant construction so far

Baku. 6 September. REPORT.AZ/ So far, about 360-400 million EUR was spent for construction of Carbamide Plant of the State Oil Company of Azerbaijan Republic (SOCAR) in Sumgayit. The plant’s director Khayal Jafarov told Report.

According to him, short-term loan in sum of 150 mln. EUR (Korea’s Eximbank - 100 mln. EUR, Germany’s Deutsche Bank - 50 mln. EUR) involved for the project: "Government-guaranteed long-term loan is planned to be involved in sum of 500 mln. EUR also will be used for payment of this short-term loan."

The plant's director said that to the first quarter of 2015, 206 million AZN (190-195 mln EUR at exchange rate for that period) involved from the state budget. 

Notably, Carbamide Plant construction project is being carried out within the State Program on reliable provision of Azerbaijani population with food products (2008-2015 years), which was approved under the relevant order of the Azerbaijani President. For this purpose, 24 hectares of land, which is in use of SOCAR 'Azərikimya' Production Union has been allocated and a groundbreaking ceremony of the plant held with the participation of President Ilham Aliyev on December 19, 2011. On March 13, 2013, SOCAR and Samsung Engineering Co. Ltd. (South Korea) have signed design, procurement and construction contract to build the carbamide production plant.

Within the contract, Samsung Engineering company will deliver the enterprise to the State Oil Company fully ready for use and on turkey basis after completing the construction and carrying out all the necessary tests. The Korean company will carry out construction-installation works of the plant as well as relevant tests and organize special trainings for the employees to eliminate any problems, which may arise during operation of the plant. The plant will consist of ammonia, liquid and granular carbamide production units, 2 000 tons of carbamide will be produced daily.