Proposals have been prepared and work is under way to form a modern Gas Refinery and Petrochemical Complex in Azerbaijan.
The complex considered to be built in the vicinity of Baku city will have a capacity to refine 10m tonnes of oil, 10bn cubic meters of gas and produce 2m tonnes of polymer per year, Gun.Az reported referring to SOCAR.
In addition, a general plant industry and thermal power centre will be built within the complex. The configuration of the complex will generally include over 30 technological equipments.
The project is worth $15bn. The Complex is to be fully commissioned in 2020. According to preliminary assessments, the project is economically attractive and investments are expected to be involved during 6-7 years.