The State Oil Company of Azerbaijan (Socar) unveils plans to build a $15bn petrochemical and refinery complex in Garadagh district of Baku. According to the national company, the feasibility study was made jointly with Technip, Foster Wheeler, and UOP; while, approval process is under way. Construction should start in two years when the feasibility study is agreed by the Government. The first part of the complex will be commissioned at the turn of 2017-2018, and the entire complex is expected to begin operating in late 2020. The complex will consist of a gas processing plant (capacity: 10 bcm at primary stage and then 10 bcm of gas), a refinery (10 Mt and 20 processing units) and a petrochemical plant (670,000 tons of polyethylene and 550,000 tons of polypropylene). The gas processing plant will start producing ethane, propane, butane and methane. The oil refinery is to manufacture gasoline A-98 and A-95, diesel fuel, jet fuel, bitumen, lubricants, etc. The project will receive 30% funding through Socar's internal resources and government contributions and the remaining funding will be secured from external financing. International oil and gas companies have already expressed their interest in the project.
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