The State Oil Company of the Azerbaijan Republic (SOCAR) has launched a new joint venture with global engineering and construction company Foster Wheeler for a $15bn (€11.4bn) mega project for a new refining-gas-petrochemicals complex.
The complex will produce more than 2 million tonnes per year of polymer capacity which includes
polyethylene (PE) with capacities of 670,000 tonnes/year and polypropylene (PP) with 550,000 tonnes/year.
The refinery is targeted to produce as much as 10 million tonne/year oil of products. The mega complex will also house gas processing unit which will also provide the feedstock ethane for the cracker.
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