“TechnipFMC” and “Yeni Kapital” companies signed initial agreement in Azerbaijan’s Innovation Agency on December 11 as part of the above-mentioned project titled “PLA” (Polylactic acid). The document was signed by the head of the Innovation Agency Tural Karimli, President of TechnipFMC Marco Villa and CEO of Yeni Kapital Kanan Najafov.
Karimli noted that 150 million euros will be invested in the project, saying that the construction of the plant will take two years. He also said that it is planned to provide tax and customs benefits for the implementation of the project.
“This project is important for environmental protection. The level of environmentally friendly water reservoirs and public health are very important for us,” Karimli said.
He noted that unlike other polymers, bioplastics decompose much faster and do not harm the environment, stressing that bioplstiс is produced with zero carbon dioxide emission.
PLA poses no threat to the environment and human health, as bioplastics decompose much faster than other polymers; its decomposition products are considered biologically safe. Biodegradable polymer can replace commonly used plastics made from oil.
PLA is produced from corn and sugarcane with the use of special technological processes. It will be used in the production of disposable items (food containers, tablecloths, bags, etc.).
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The implementation of the PLA project will also contribute to the development of medical equipment, biodegradable furniture, 3D printing, high-tech equipment, the weaving sector, etc.
The project will also create new jobs in industry, agriculture, processing, services, and logistics. More than 7,000 people are expected employed at the plant in the future.
According to the plan, over 1,000 people will participate in the construction of the project.
“The annual income will be at least $110 million. It is planned to return investments within 5 years,” Karimli emphasized.
Published on azernews.az
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