SOCAR and UNIPER form a JV in the sphere of energy and steam production
SOCAR and UNIPER (Germany) form a JV “SOCAR - UNIPER” Ltd.
On Wednesday in Baku the parties signed the documents on the foundation of the JV on the results of the 3rd meeting of the Coordination Committee of SOCAR and UNIPER.
According to SOCAR, in conformity with the agreement, the stakes will be the following: SOCAR -51% and UNIPER-49%.
The new enterprise will run its activity in the sphere of energy and steam production.
Moreover, the parties signed an agreement on primary projection of a new steam turbo generation unit at the “Ethylene-polyethylene” plant. The construction of the unit will increase the energy efficiency of the steam generating complex existing at the “Ethylene-polyethylene” plant and will provide the production of the additional volumes of electric energy, specialists of SOCAR think.
The basement contruction of the new steam turbo generation unit also took place on Wednesday.
