The SOCAR Carbamide Plant will begin exporting fertilizers in May 2019, Khayal Jafarov, director of the plant, said at the international conference "Argus Mineral Fertilizers 2019 - Production and Logistics in the Caspian and Black Sea region" in Baku, Trend reports.
The director noted that Samsung Engineering Co. Ltd. will fully complete the transfer of the carbamide plant to Azerbaijan's SOCAR in May, and the transfer process will begin in April 2019.
Jafarov added that up to 500,000 tons of carbamide will be exported per year, and most of it will be supplied to Turkey.
"We also plan to enter the markets of the Black Sea and the Mediterranean," Jafarov said.
He further added that the total cost of the carbamide plant is 780 million euros.
The SOCAR Carbamide Plant, built on the territory of the Sumgait chemical industrial park, was commissioned on January 16.
The beginning of production at the SOCAR Carbamide Plant will eliminate the need to import nitrogen fertilizers, thereby the country's foreign currency expenditure will be reduced. While using 435 million cubic meters of natural gas as raw materials, the plant is capable of producing 650,000-660,000 tons of carbamide products.
About 70 percent of the production volume accounts for export. This will enable the country to receive additional income worth up to $160 million annually. The commissioning of this plant will play an important role in the development of agriculture in Azerbaijan.
Carbamide fertilizers have the highest nitrogen content, therefore, they are considered the highest quality nitrogen fertilizer.
The demand for carbamide is connected with its low cost, economical transportation, convenient use, which contributes to high yields in agriculture. This product is also widely used in the production of other chemicals and pharmaceutics.
Presently, the SOCAR Carbamide Plant is the biggest project in the country, implemented in the non-oil sector, its total cost is about 800 million euros.
The project was initially financed through the funds allocated from the state budget. During the construction of the plant, a number of international banks allocated funds in the amount of 500 million euros through the state guarantees.
