Azerbaijan's AzMeCo eyes methanol production next year

02 October 2012 15:16  [Source: ICIS news]

MOSCOW (ICIS)--Azerbaijan Methanol Company (AzMeCo) aims to start operation of a new methanol production facility early next year, it said on Tuesday.

The plant, in the Garadag district of the capital city of Baku, is due to start production at about 60% of its total capacity, according to the company's announcement.

The new $350m (€273m) plant will reach its full 720,000 tones/year capacity in March 2013, it said.

The project was previously expected to cost $320m and had been due to start production in November 2012. AzMeCo had previously indicated plans to export up to 90% of its methanol.

By: Sergei Blagov
+44 20 8652 3214

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