Azerbaijan's state-owned chemicals operator Azerikimya plans to build a petrochemical complex and a fertiliser factory in Azerbaijan.
The new complex, including 19 factories, will be designed for the manufacture of 700,000t of HDPE and LDPE, 130,000t of polypropylene, 40,000t of benzene, 110,000t of styrene and other petrochemicals.
France's Societe Generale has established an organisation of financing to fund the $5.5bn project.
The UK Export Credits Guarantee Department is analysing the issue of financing for the project.
Construction of the project is expected to be four years before the launch of output production and period of recoupment is to be three or four years, according to plastemart.com.
