SOCAR & UNIPER Establish Cooperation

Source: www.gulfoilandgas.com 5/25/2016, Location: Asia

SOCAR and UNIPER, Germany held third meeting of the Coordination Committee in Sumgayit. Rovnag Abdullayev, SOCAR President, Klaus Sch?fer, CEO, UNIPER and other officials attended the meeting. The companies presented joint projects for training of highly qualified specialists and new projects of “Azerikimya” and then signed an agreement on new joint venture SOCAR-UNIPER Ltd, 51% of which belongs to SOCAR, 49% to UNIPER. They also signed an engineering design agreement on steam turbo-generator unit for enhancing energy effectiveness of steam generator complex of the Ethylene-Polyethylene Plant. The officials attended the groundbreaking of steam turbo-generator unit.

SOCAR President Rovnag Abdullayev visited SOCAR Polymer plant constructed within the Sumgayit Chemical Industrial Park to see the development of engineering, purchase and construction work there. SOCAR President said he was pleased to see young Azerbaijani specialists, alumni of Cambridge, Newcastle and Toronto universities among the project managers. Then Rovnag Abdullayev visited the construction site of nitrogen fertilizers plant where 71% of engineering and purchasing work was completed. The constructors promised to complete the work until the end of 2017 and put in commission within the first quarter of 2018. SOCAR President expressed satisfaction with the development of the project and made recommendations.


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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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