Azerbaijan’s carbamide plant to start bringing money by 2026

The carbamide plant of Azerbaijan’s state oil company SOCAR will start bringing profits in seven to eight years after its commissioning, the plant’s director, Khayal Jafarov told reporters Apr. 12.

SOCAR expects large volumes of profits and productivity from the carbamide plant, which is under construction, he added.

“The plant’s capacity will be about 2,000 tons of carbamide per day, or around 650,000-660,000 tons per year,” said Jafarov.

“Azerbaijan’s carbamide demand is nearly 150,000-200,000 tons a year and these are the most optimistic figures,” said the plant’s director, adding that the rest of the plant’s products – around two-thirds – will be exported.

He noted that Turkey will be the main market for delivering the products of the carbamide plant.

“We pin great hopes on the Baku-Tbilisi-Kars railway project, as it will help us a lot,” said Jafarov.

Currently, Turkey imports carbamide from Ukraine and Russia, as well as the Middle East, he said, adding that the country imports around 1.5-1.8 million tons of carbamide a year.

A number of factors should be taken into account in this issue, according to the plant’s director.

“Firstly, such Middle Eastern countries as Qatar and Egypt mostly supply carbamide to the East – China and India. This is while Ukraine doesn’t have natural gas needed for carbamide production,” Jafarov explained.

He noted that around 320-330 million euros have already been spent as part of the carbamide plant project.

“This amount was spent only on the work carried out by Samsung,” he added. “We pay high taxes and it is really a great support to the stage budget.”

Source: Trend