Azerbaijan, Baku, August 4 / Trend , E. Ismaylov /
Works to build a new methanol production factory in Azerbaijan have been implemented at 75 percent, a source in the company AZMECO, which is building the plant, said on August 4. The methanol production plant is a complex, which will also produce nitrogen fertilizers.
"Works on construction of the plant are continuing, there is no delay in construction. Already 75 percent of the work has been implemented," the same source said.
According to the source, the new plant is scheduled to be put into operation in the third quarter of next year. Work on the construction of the plant started in 2007. The new plant will be located in Garadagh region.
Formerly the chairman of the company Nizami Piriyev said that within the first phase, the capacity of the methanol production plant will be 720,000 tons per year. The second phase of construction, which involves the production of nitrogen fertilizer, is scheduled to be completed in 2011.
The amount of funds invested in the implementation of both phases of the project is around $800 million.
Official rate on August 4 is 0.8042 AZN/USD.
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