18:03 - 19.12.2017

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December 19, Fineko/abc.az. The Baku oil refinery n.a. Heydar Aliyev and Spain’s Tecnicas Reunidas signed a contract for reconstruction of the refinery.

The State Oil Company of Azerbaijan (SOCAR) reports that the contract was signed by refinery’s director Elman Ismayilov and Tecnicas Reunidas’ CEO for corporate development Enrique Alsina Massana.

"The contract with Tecnicas Reunidas implies reconstruction of existing plants and general economy of the refinery," SOCAR informed.

The purpose of the reconstruction is to meet the domestic demand for high quality fuels amid the growth of fleet of transportation vehicles, strengthening of country’s export potential by coordinating chemical sector and the processing sector, improvement of ecological environment in the country. Within these plans, the reconstruction of the refinery will be carried out in three stages and 14 plants will be built. Refinery’s capacity will be increased from 6 million tons up to 7.5 million tons a year and the quality of the produced fuel will be brought up to standard Euro 5. Besides, the refinery will produce gasoline A-92/95/98. As a result of this project, it will be ensured optimization of refinery’s operating costs and total elimination of infrastructure of oil refinery Azerneftyag.