Over 220,000 tons of methanol to be produced in Azerbaijan in 2019
Baku, Azerbaijan, Aug. 14
By Sara Israfilbayova – Trend:
Some 226,000 tons of methanol are planned to be produced at the SOCAR Methanol plant this year, the Azerbaijani state oil company SOCAR told Trend on Aug. 14.
Most of the products will be exported, the company said.
SOCAR Methanol, the sole of its kind in the South Caucasus and Central Asia, started sales of its products in January 2014.
The plant’s capacity is 650,000-700,000 tons of products per year.
SOCAR acquired the plant from Aqrarkredit non-bank credit organization [which also manages the troubled assets of the International Bank of Azerbaijan], to which the plant was transferred by decision of the Azerbaijani Cabinet of Ministers as a debt to state organizations.
The cost of the plant was estimated at $520 million.
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