SOCAR names reasons for suspending carbamide plant construction

Azerbaijan’s state oil company SOCAR has suspended the construction of the carbamide plant in Georgia’s territory due to the changes in the conditions in the energy market, long-term gas supply and other issues.

SOCAR Investment Department head Vagif Aliyev told Trend on May 13, that no subjective or other factors affected the adoption of this decision

He added that in recent days, media outlets and social networks have spread groundless and untrue speculative information about suspending the project.

Aliyev said serious work was carried out on this project for a significant amount of time, however, after the mentioned issues emerged, the project was revised and it was decided to suspend it.

The plant was planned to be built on the territory of the free industrial zone in Kulevi. The investment cost of the project was $100 million. Completion of the construction was expected to end in 2016.

SOURCE: Azer News