Nitrogen plant for SOCAR Polymer nears completion in 2017

Baku. 13 April. REPORT.AZ/ As part of the SOCAR Polymer project, construction of a nitrogen plant will be completed this year. 

Report informs, SOCAR Polymer General Manager Farid Jafarov said at the Gazprombank's business mission meeting in Baku. He noted that the equipment has already been delivered to Azerbaijan: "Signed agreement provides for preparation and supply of nitrogen plant for SOCAR Polymer project by Cryogenmash which is a part of Gazprombank. We have a very successful partnership with Gazprombank. In this cooperation we have mutually benefited from our experience. Gazprombank has allocated 500 mln USD loan to SOCAR Polymer project. At the same time it is a financial consultant for SOCAR-GPC project - gas processing and petrochemical complex planned to be implemented in Garadagh.

F. Jafarov said that right now works on "SOCAR Polymer" project are successfully implemented on schedule and within budget.

Notably, in June 2016, President of the State Oil Company of Azerbaijan Republic (SOCAR) Rovnag Abdullayev and Chairman of the Management Board of Gazprombank Andrey Akimov have signed an agreement on cooperation within the St. Petersburg International Economic Forum. The contract provides for preparation and supply of nitrogen plant for SOCAR Polymer project by Cryogenmash, which is a part of Gazprombank. The installation will ensure to meet SOCAR Polymer's demand for high-purity gaseous nitrogen.