Azerkimya Agreed with Exxon, Thyssen Krupp on Cooperation
OREANDA-NEWS. July 30, 2009. Azerkimya (Azerbaijan State Chemical Company) is ready for realization of a project on creation of a new petrochemical complex in the country.
Mejid Kerimov, Company’s president and ex-minister for industry & energy, stated that they have signed memorandums of co-operation with companies ExxonMobil, Ineos and KBR (UK), Basell (Holland), Uhde (Thysenn Krupp - Germany), Technip (France) on supply of technologies for the new complex on manufacture of petrochemical products and fertilizers in Azerbaijan.
“The complex is going to be the most advanced in the region of the Black and Caspian Seas. Technip company prepared principal concept of the project on the basis of internal raw material base. The project feasibility study was made Nexant. Analysis of financing and corporate structure of the project was carried out by French bank Societe Generale and law firm White & Jase,” Kerimov said.
Within the Project Azerkimya conducted a tender procedure for feasibility study consultant (US company Nexant became the ender winner). The consultant was to choose an optimal option of a new petrochemical complex, specification of feasibility study figures, proposals for rational use of raw materials and energy resources, expansion of manufacturing range, improvement of production environmental measures and features of made products, increase of sales opportunities.
Nexant provides world-class consulting solutions in each field of industrial and energy sectors.
In Azerbaijan in particular it made a feasibility study for Azerbaijan Investment Company and Kavkaztransservis LLC on Sangachal-Garadagh Oil & Gas Terminal for Kazakh and Turkmen hydrocarbons.
Allied Investment has already made a feasibility study of quite a new chemical complex to use natural gas as a raw material. Cost of this project first stage is evaluated at USD 1 bn.