SOCAR increases its share in SOCAR Polymer

According to SOCAR’s consolidated financial statements, the company’s equity in SOCAR Polymer increased from 52.15% to 57.01%, Report informs.

SOCAR Polymer was established in July 2013 to accelerate the development of the chemical industry in Azerbaijan.

The SOCAR Polymer project includes plants producing polypropylene with a yearly capacity of 184,000 tonnes and high-density polyethylene with an annual capacity of 120,000 tonnes.