SOCAR Methanol reaches this year's production target 100%

Baku. 23 October. REPORT.AZ/ The "SOCAR Metanhol" LLC has fully implemented its forecast for 2017.

Report informs, Director General of the "SOCAR Methanol" LLC Elnur Mustafayev said at the event titled "Supporting domestic production in development of processing industry in Azerbaijan: "This year, the plant has continued uninterrupted and safe production."

He noted that 95% of the plant's output is exported by SOCAR's Marketing and Economic Operations Department: “There is a great demand for the plant's products. 5% of products are sold on the domestic market. In the domestic market, sales are carried out mainly to several entities".

Notably, this year the plant has predicted the production of 250,000 tons of methanol.

According to him, one of the company's strategic goals is to increase production and reduce the cost of goods.

He said that the share of SOCAR Methanol in the production of methanol plants in the world is 0.7%.

Speaking about importance of the event, E. Mustafayev noted that the event was a good opportunity to develop local sales and to sell more products to enterprises in Azerbaijan. The head of the enterprise said that such events would be sustainable.

Notably, the methanol plant in Garadagh district was commissioned in 2013. The plant operates under the management of SOCAR Methanol, a subsidiary of SOCAR since 2016, and has been transferred to the company in August 2017. The plant’s capacity of production is 650-700,000 tons of methanol annually. Natural gas and salt water used as raw material in the production.