BAKU, Azerbaijan, Oct. 11
By Leman Zeynalova - Trend:
SOCAR Methanol has increase its production volume from around 383,000 tons in 2019 to 476,000 in 2020, Trend reports with reference to Azerbaijan’s state oil company SOCAR.
The plant sold 478,900 tons of methanol, of which 469,000 tons or 97.9 percent accounted for export and 9,900 tons or 2.1 percent was sold domestically. The main export destinations were Turkey, Italy, Romania, Israel and Spain.
The plant is the only producer of methanol in the South Caucasus and Central Asia. 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.
SOCAR’s carbamide plant produced 119,500 tons in 2020, as compared to 171,000 tons in 2019. The plant sold 109,900 tons of the produced carbamide, of which 40,500 tons or 36.8 percent accounted for domestic market, while 69,400 tons or 63.2 percent was exported abroad. The main export destinations were Brazil, Moldova, Columbia, Turkey and Georgia.
The SOCAR Carbamide Plant was commissioned on Jan. 16, 2019. The plant contains production sites for the production of ammonia, carbamide and carbamide granules. The total cost of the plant’s construction stood at 780 million euros, 197 million euros of which were allocated from the state budget of Azerbaijan, 500 million euros were provided via borrowed funds, and 80-85 million euros were allocated from tax and other deductions to the budget during construction, which SOCAR paid for from its own funds.
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