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ABOUT US

SOCAR Polymer, a project of international standing, is the first of its kind and scale in the petrochemical industry, to be implemented in Azerbaijan over the past 40 years.

SOCAR Polymer was founded on July 16, 2013 in order to reinforce the development of the chemical industry of the country. The company’s production facilities consisting of Polypropylene (PP) and High Density Polyethylene (HDPE) plants are located within the territory of the Sumgayit Chemical Industrial Park (SCIP). With 184 and 120 KTA of production capacity respectively, the PP and HDPE plants were put into operations in July 2018 and February 2019, respectively.

184.000
Polypropylene
120.000
High-density polyethylene
The main goal in establishing the SCIP has been acceleration of economic development of Azerbaijan, increasing competitiveness in comparison with other countries that are leading in terms of development of innovative industries. SCIP supports innovative industrial initiatives through extensive tax exemptions, and provides full infrastructure support and single point approach to permit issuing
Tax exemptions
Full infrastructure support
Single window approach
Project investment structure
816$ mlnProject cost
60%Gazprombank loanNon-recourse project financing
40%Equity
Share capital structure
57%SOCAR
Public-private partnership

SOCAR Polymer’s Polypropylene and High-Density Polyethylene plants are the first of their kind in Azerbaijan, enabling the growth of the domestic petrochemical industry through development of production for this segment of the plastics market.

For the implementation of the project, SOCAR Polymer had engaged the Italian engineering company, Tecnimont as an EPC contractor. Another leading engineering company, Fluor, had been engaged as a PMC contractor to supervise the EPC contractor’s performance. An integrated project management team (IPMT) comprising representatives of all these companies was established to guide and control the implementation of the project. To develop local engineers' professional capacities, Fluor introduced special professional development programs, with specialized trainings for local engineers and other employees, provided in Amsterdam, Milan and Mumbai.

SOCAR Polymer is the first project in Azerbaijan to have been implemented on the basis of the non-recourse project financing principles, without a guarantee from the parent company. It is expected to create a multiplication effect in many important sectors of Azerbaijan’s economy, with a large number of new job openings.