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New Plant Worth €500 Million To Be Constructed in Azerbaijan

SOCAR and South Korean Samsung Engineering Co. Ltd signed an agreement on construction of carbamide plant.

The document was signed by the President of SOCAR Rovnag Abdullayev and CEO of Samsung Engineering Seok Park.

According to the agreement, Samsung Engineering will construct, conduct relevant testing and finally will hand over the plant to the Azerbaijani side. The plant will mainly produce nitrogen fertilizer. All the products to be produced will both meet the domestic demand and can also be exported.

The construction will cost €500 million.

The construction will be realized at the cost of state investment. 24 ha area has been allotted for the construction. The plant will be constructed during 2013-2015.

Besides, 14 companies have appealed to attend the tender on plant's construction and 10 of them got the status of participant. In December of last year, Samsung Engineering was announced the winner of tender held by the Tender Commission.

Source: News.Az

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