The construction of a carbamide plant in Georgia by the Azerbaijani State Oil Company (SOCAR) may begin in late 2014, a source at the State Oil Company told Trend on Friday.
SOCAR plans to construct two carbamide plants. One of them will be located in Sumgait, Azerbaijan and the second will be in Georgia.
According to the source, currently, preparation works are being carried out in Georgia on the construction of the plant, after which it is planned to start coordinating with banks.
"This process became a topical one, currently active work is carried out on it. The plant I Georgia will be similar to the one which is planned to be constructed in Azerbaijan," the source stressed.
The construction of the carbamide plant in Azerbaijan will be completed in 2016. The general contractor of the construction project is South Korea's Samsung Engineering Co., Ltd.
Approximately 40-45 percent of the plant's products are expected to be sold on the domestic market. This will fully meet the demand for nitrogen fertilizers in the country.
The new plant will be located in Azerkimya's industrial site in the city of Sumgait. Annual capacity will be about 600,000 tons of carbamide per year (2,000 tons per day) and 1,200 tons of ammonia per day.
Around 500 million euros (excluding taxes) will be allocated from the state budget for the construction of the plant, as the construction is envisaged within the state program on providing the population with food in Azerbaijan from 2008-2015.