The exact cost of the project will be known at the end of 2019, Alkhasli noted.
The complex is planned to be commissioned in late 2023, he said.
BP and SOCAR Turkey, a subsidiary of the Azerbaijani state oil company SOCAR, signed a heads of agreement (HoA) to evaluate the creation of a joint venture that would build and operate a world-scale petrochemicals complex in Turkey.
The facility will be located at SOCAR Turkey’s Private Industrial Zone in Aliaga, which includes the recently-inaugurated STAR refinery and major Petkim petrochemicals site.
The facility would produce 1.25 million tons per annum (tpa) of purified terephthalic acid (PTA), 840,000 tpa paraxylene (PX) and 340,000 tpa benzene.
The Conference on Oil Refining and Petrochemistry of the Caspian Sea and Central Asia is held within the 4th SOCAR International Caspian and Central Asia Downstream Forum on Trading, Logistics, Refining and Petrochemicals, which started in Baku on April 22, 2019.
The conference “Oil Refining and Petrochemistry of the Caspian Sea and Central Asia - Conjuncture, Projects Implementation, Technical Solutions” is held as part of the forum.
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