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Azerbaijan`s First Methanol Plant to Be Commissioned in Summer

Azerbaijani Methanol Company (AzMeCo) has postponed terms of the launch of a methanol plant to be the first in Azerbaijan and the South Caucasus for the summer 2013.

AzMeCo plant start-up is expected in the coming months.

Construction on the territory of the plant has been finished, only some technical issues remain unsolved. After what the enterprise will be launched.

An off-take agreement for sale of Azerbaijani methanol was signed on 26 November in London within the framework of the First Caspian Corridor Conference organized by CityUK in cooperation with International Bank of Azerbaijan OJSC and Asia House.

BP received off-taker status for entire output of the Company.

Investment in the plant construction totaled $350 million not taking into account interests on raised financing.

Source: AzerTAc

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