Rovnag Abdullayev: Azerbaijan to create a stable raw material base for petrochemical industry

15:12 - 3.02.2021


February 3, Fineko/abc.az. Azerbaijan State Oil Company (SOCAR) and Maire Teknimont Group have signed agreements on new generation installations.

ABC.AZ reports that work on the new EPC agreements with a total cost of about US$160 million is expected to be completed within 33 and 26 months, respectively.

SOCAR president Rovnag Abdullayev noted that the SOCAR oil refinery n.a. Heydar Aliyev plays the great role as the only oil refining complex in the South Caucasus region: "The oil refinery supplies fuel to the region and provides raw materials to the petrochemical enterprises of SOCAR. The reconstruction of the refinery will significantly improve the quality of diesel fuel and gasoline, bring them into compliance with the Euro-5 standard, as well as create a stable and efficient raw material base for the petrochemical industry of Azerbaijan. Reconstruction works are also important from an economic and environmental angle and are important for improving the quality of life in our cities. For this noble goal, we are pleased to collaborate with the renowned Maire Teknimont group, which carries the creative and talented spirit of Italy, with which we maintain friendly relations."

 

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