The State Oil Company of Azerbaijan (SOCAR) has announced plans to start construction of a new petrochemical processing complex at the industrial complex of Sangachal Terminal in south Baku region of the country.
SOCAR president Rovnag Abdullayev said the construction of the complex would be one of the greatest investments in the Azerbaijan economy, reports APA news agency.
Mr. Abdullayev said the construction of the complex would begin this year and would employ nearly 15,000 workers during the construction phase.
In May 2013, SOCAR planned to set up production of Propylene at a new plant to be constructed at the SOCAR sub-company Azerikimya Production Union.
In addition to exploring oil and gas fields, SOCAR produces, processes, and transports oil, gas, and gas condensate; markets petroleum and petrochemical products in domestic and international markets; and supplies natural gas to industries in Azerbaijan.
The company has three production divisions, two oil refineries and one gas processing plant, an oil tanker fleet, a deep water platform fabrication yard, two trusts, one institution, and 22 subdivisions.
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