Methanol plant becomes property of SOCAR

Baku. 8 September. REPORT.AZ/ Since November 2016, the Methanol plant has been operated by SOCAR subsidiary "SOCAR Methanol" LLC, under the company management. Starting from August 2017, the plant became property of SOCAR.

Report informs, Deputy Director General of "SOCAR Methanol" LLC, Tural Bakhshiyev said in an interview with AZERTAC.

T. Bakhshiyev said that this year 250,000 tons of methanol is planned to be produced at the plant and 75% of the planned annual production target has been already fulfilled.

"Turkey, a number of Western Europe and the Mediterranean basin countries dominate among the countries where product, manufactured in the Methanol plant is exported. Mainly, SOCAR Marketing and Economic Operations Department is engaged in the export of the product. The maximum annual production capacity of the Methanol plant is 650-700 thousand tons. Our strategic target is to reach annual production 500,000 tons in the near future".

According to him, more than 350 Azerbaijani citizens are currently provided with permanent employment at the plant and average age of the employees is 36 years.

He noted that "SOCAR Methanol" LLC carries out research on release of new products in the near future, intended for end-users with “Made in Azerbaijan" trademark under SOCAR brand. The Deputy Director General added that in order to improve production, the LLC has started scientific-production cooperation with several scientific organizations of Azerbaijan - Institute of Petrochemical Processes of Azerbaijan National Academy of Sciences, International Ecoenergy Academy and other scientific institutions and research centers.