BAKU, Azerbaijan, June 13
By Nargiz Ismayilova - Trend:
SOCAR Methanol LLC, a subsidiary of the State Oil Company of Azerbaijan (SOCAR), produced 203,200 tons of methanol from January through May 2020, Trend reports citing the State Statistical Committee.
The production increased by 45.7 percent over the year.
According to the report, stocks of finished products amounted to 34,300 tons as of June 1, 2020.
SOCAR Methanol plans to produce methanol in the volume of 480,000 tons in 2020. In 2019, the plant produced 383,000 tons of methanol.
The plant is the only producer of methanol in the South Caucasus and Central Asia, and it began to sell its products in January 2014.
The plant’s annual capacity is 650,000-700,000 tons. SOCAR acquired the plant from the Aqrarkredit Closed Joint-Stock Non-Banking Credit Organization.
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