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    SOCAR Carbamide Plant will export most of manufactured products

    Korean 'Eximbank' to allocate additional 23 mln EUR in late April

    Baku. 13 April. REPORT.AZ/ "Second tranche of the loan, allocated by the Korean "Eximbank" within construction of Carbamide Plant of the State Oil Company of Azerbaijan Republic (SOCAR) will be transferred by the end of this month. 23 mln EUR is expected to be granted on this tranche".

    Report informs, the Plant's Director Khayal Jafarov told reporters.

    According to him, total amount of the loan from the above-mentioned bank may be up to 500 mln EUR: "Korean "Eximbank" has opened a credit line of 500 mln EUR with a guarantee of the Azerbaijani government. The first tranche was implemented on March 4 and the amount was 201 mln EUR. The project's total cost is around 750 mln EUR".

    Director also noted that the plant will be launched after a year and the fertilizer produced in the plant will fully meet demand of the country: "We intend to produce daily 1.200 tons of ammonia and 2.000 tons of carbamide, which means annual 650-660 000 tons of carbamide. According to our estimates, current annual carbamide demand of the country is 150 000 tons. Part of the product to be manufactured will be exported. Turkey, other Black sea and Mediterranean sea countries are considered as main export markets. At present, Turkish import amounts to 1.5 mln tons. We can supply about 1/3 of it".

    Kh.Jafarov also announced amount of anticipated revenue of the plant: "According to our estimates, we will get an average of 100 US-dollars per ton of carbamide".  

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