17:36 - 18.02.2019

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February 18, Fineko/abc.az. Azerbaijani President Ilham Aliyev has taken part in the opening of a SOCAR Polymer plant on production of high-density polyethylene in Sumgait.

The head of state was informed about activity of the enterprise.

During the meeting with the plant's employees the country’s leader said that territory of the Sumgait Chemical Industrial Park exceeds 500 hectares and there are various enterprises operating here. Among them is the SOCAR Polymer plant, which starts operating at full capacity.

"This is a very significant event, as it is an indicator of confidence on the part of foreign financial institutions. Foreign banks participated in the financing of its construction. In general, this is a good result of the industrialization policy," the head of state said.

He added that plant’s production capacity will be 300,000 tons a year and this means a 15% increase in nonoil exports.

"Our main goal is to diversify the economy, create new jobs and establish enterprises with the latest technologies in Azerbaijan," the president emphasized.