Azerbaijan, Baku, June 3 / Trend , E.Ismayilov/
In mid-2010, AZMECO company plans to put into operation a new plant to produce methanol in Azerbaijan, part of the company, which will also produce nitrogen fertilizer, the chairman of the company Nizami Piriyev said.
"The construction started last year, about 40 percent of the work has already done and we are going to put the plant into exploitation in mid-2010," Piriyev said.
Piriyev said capacity of the plant for methanol production will be 720,000 tons per year as part of the first stage. It is planned to finish construction of the enterprise which will produce nitrogen fertilizer in 2011. At present, the design work is being conducted as part of the second phase.
The amount investment in the implementation of both phases of the project is around $800 million.
First of all, methanol to be produced at the plant will provide an internal market of the country, while the remainder will be exported.
Foreign companies conducting marketing research gave positively assessed sale and use of methanol. At present, demand of domestic market for methanol is 30,000 tons per year. "At the base of methanol, it will be possible to develop our chemical industry and create new enterprises that will produce new products, by using methanol," Piriyev said.
Basically, methanol will be exported to European countries, particularly to the Western and Eastern Europe.
By using methanol as fuel, the amount of harmful substances emissions can be reduced thrice.
Piriyev said it is planned to produce about 400,000 tons of nitrogen fertilizer, which is about 1,800 tons of fertilizer a day in a year in the second phase of construction. The country's demand for fertilizer is about 200,000-250,000 tons per year, while the rest will be exported to neighboring countries.
The new plant for methanol production will be located in Garadagh region.
AZMECO was established in Azerbaijan in 2007 and is the operator of the project of constructing and launching the plant to process gas into methanol.
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