Earlier, SOCAR said that it is planned to produce 350,000 tons of methanol at the plant by late 2019.
The volume of production at the plant neared 230,000 tons in 2018 and is forecasted to grow from year to year.
SOCAR Methanol, the sole of its kind in the South Caucasus and Central Asia, started sales of its products in January 2014.
The plant’s capacity is 650,000-700,000 tons of products per year.
SOCAR acquired the plant from Aqrarkredit non-bank credit organization. The cost of the plant was estimated at $520 million.
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