Azerbaijan to start carbamide export from May

SOCAR Carbamide Plant will start export of carbamide in the second half of May, Director of the Carbamide Plant Khayal Jafarov said at the Argus Fertilizer 2019. Production and Logistics in the Caspian and Black Sea Region conference.

According to him, 500,000 tonnes of carbamide are planned to be exported per year and major part will be exported to Turkey: "Turkey imports 2.5 million tonnes of fertilizers per year. Moreover, Black and Mediterranean Seas are also considered as the export markets."

Jafarov said that Korean Samsung Engineering Co., Ltd. will hand over the plant in May.

Speaking about financing, the director noted that the plant costs EUR 780 million: "The financing was initially carried out from the budget allocations. EUR 197 million was allocated from the budget. KEXIM Bank allocated EUR 251 million, Societe Generale (France), "Deutsche Bank"(GErmany) and "UniCredit" (Austria) allocated EUR 249. SOCAR allocated EUR 80-85 million."

SOCAR Carbamide Plant was launched on January 16.