Baku, Azerbaijan, Nov. 7
By Azad Hasanli – Trend:
SOCAR Methanol LLC ceases its activity, said the message published in a newspaper of the Azerbaijani Ministry of Taxes.
According to the message, SOCAR Methanol will join the Methanol Plant of the Azerbaijani state oil company SOCAR. In this case, the plant will be reorganized.
The reorganization is not structural in nature and will not affect the activity of the plant, SOCAR told Trend.
Production of methanol at Azerbaijan’s methanol plant, the only plant of this kind in the South Caucasus and Central Asia, started in January 2014. The annual capacity of the plant is 650,000-700,000 tons.
SOCAR acquired the plant from the Aqrarkredit non-bank credit organization. The plant cost was estimated at $520 million.
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