Russia's Schekino Azot eyes new methanol unit

21 May 2013 16:03  [Source: ICIS news]

MOSCOW (ICIS)--Schekino Azot plans to build a new methanol production facility, the Russia-based chemical producer said on Tuesday.

The project is expected to be implemented in three years, the company added without disclosing financial details.

Schekino Azot's board chairman Boris Sokol in a statement said the new unit would have a capacity of 600,000-800,000 tonnes/year. The board is expected to approve the project in the third quarter of 2013.

Schekino Azot, based in Tula region, south of Moscow, is a producer of ammonia, methanol, urea formaldehyde concentrate (UFC) and other chemical products.

In October 2011, the company started operation of a new 450,000 tonne/year methanol project that cost €150m ($192m). This facility replaced the company's pre-existing 350,000 tonne/year methanol unit that was shut down.

($1 = €0.78)

By: Sergei Blagov
+44 20 8652 3214

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