Azerbaijan to launch petrochemical complex project next year

The UK business consulting firm Nextant will submit the feasibility study of a proposed petrochemical complex project to the Government of Azerbaijan in mid-January, 2009, said Rza Rzayev, investment officer of Azerkimya state chemicals maker.

He added that the firm will complete the feasibility study by late December or early January.

"The project is slated for commencement in 2009 and completion by late 2012. The complex will locate in the industrial site between Sumgait and Absheron," he added.

He said the new high-tech petrochemical complex will allow Azerbaijan to develop non-oil economy and produce higher-quality and more competitive oil products for export.

/APA/