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# Socar carbamide plant has begun to pay off loan

Publication Date: 2019-12-11T21:25:42-05:00
Last Updated: 2019-12-10T22:32:36-05:00

Author: Elena Shalashnik (https://www.fertilizerdaily.com/author/shea2707/)

Categories: [Corporate](https://www.fertilizerdaily.com/corporate/), [Markets](https://www.fertilizerdaily.com/markets/)

![Socar carbamide plant has begun to pay off loan](https://www.fertilizerdaily.com/wp-content/uploads/2019/12/euro.jpg)

Debts must be paid off.

The carbamide plant of the state corporation Socar (Azerbaijan) has begun repayment of the loan raised for its construction. This year, a total of 66 million euros will have been paid, said Khayal Jafarov, General Manager of the enterprise.

“The loan repayment process has already been initiated. In June, we paid the first tranche of €33 million with interest; a similar amount will be paid in the second tranche in the first half of December. Thus, the total amount of loan payments for the current year will amount to €66 million, another €460 million euros with interest will remain to be paid off,” he said.

He also said that by November 1, 2019, the plant had produced around 125-130 thousand tons of urea; around 15 thousand tons of these were sold on the domestic market, 30 thousand tons are stored in the warehouse of the enterprise, the rest were exported.

Tags: [Azerbaijan](https://www.fertilizerdaily.com/tag/azerbaijan/), [carbamide](https://www.fertilizerdaily.com/tag/carbamide/), [nitrogen fertilizer](https://www.fertilizerdaily.com/tag/nitrogen-fertilizer/), [Socar](https://www.fertilizerdaily.com/tag/socar/), [urea](https://www.fertilizerdaily.com/tag/urea/)

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