Chinese companies express interest in SOCAR’s project in Azerbaijan
Rovnag Abdullayev, head of SOCAR, reported that they have not suspend construction of the complex while adding that they did suspended working with Japan’s Mitsui as they found their proposal to be ineffective.
The OGPC will be located 60 kilometers from Baku and is expected to produce around 800,000 tons/year of PE and 300,000 tons/year of PP. It will also house a refinery with a processing capacity of 8-9 million tons per year and a gas processing unit with a capacity of 12 billion cubic meters.
The construction cost of the OGPC is reported at $17.1 billion, which is planned to be financed with authorized and borrowed capital.
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