Baku, Azerbaijan, Feb.3
By Leman Zeynalova – Trend:
SOCAR Methanol, a plant for methanol production is expected to undergo overhaul in July-August 2020, Ibrahim Ahmadov, deputy head of the public relations and events department at SOCAR, told Trend.
He noted that the overhaul will presumably last about 1.5 months.
As for production, he noted that SOCAR produced 383,000 tons of methanol in 2019.
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.
The export geography of SOCAR Methanol is quite large, with exports to Black Sea, Mediterranean Sea, Atlantic Ocean and Pacific Ocean regions.
The export markets are determined depending on the competibility of prices set by certain buyers.
SOCAR acquired the plant from Aqrarkredit non-bank credit organization. The cost of the plant was estimated at $520 million.
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