AzMeCo founded the construction company

Company AzMeCo, the owner of a single methanol plant in Azerbaijan, founded in July developer AzMeCo Insaat.

The purpose of the new company was not disclosed, although it is known that in May of this year, the company agreed with Sberbank of Russia, among others, investment projects for additional funding methanol plant in Garadagh district of Baku in the amount of $ 450 million.

Enter methanol plant in operation took place in 2013. Plant performance is estimated at 720 thousand. Tons. The company did not provide statistics output. Earlier it was reported that every day is made of 1 thousand. Tons. According to experts, the demand of Azerbaijan in methanol is not more than 20 thousand. Tons per year. Gas supplies AzMeCo SOCAR.

In the construction of this plant was invested 350 million. Manat. The work was funded by the International Bank of Azerbaijan and the European Bank for Reconstruction and Development.

AzMeCo was founded in 2007. Its authorized capital - $ 00 million. Company is a company of PNN Group, bringing together oil and gas and petrochemical assets, as well as a number of retail businesses in Azerbaijan, Russia, Ukraine, the Netherlands, Uzbekistan, Afghanistan and Turkey. Around AzMeCo Azerbaijan has 7 companies (AzMeCo Construction Group, Fateh and AzMeCo EPC Group, AzMeCo Oil Rafinery and Petrochemical Technologies, AzMeCo Alternative Energy, AzMeCo Green Houses, etc.), as well as a representative office AzMeCo International Finance Limited.

Methanol is a transparent liquid petrochemical compound capable biodegradable. Methanol used for the manufacture of industrial and consumer products, such as synthetic materials, reusable plastics, household paints and adhesives, foam pads and cushions, and even such common medicines, as acetylsalicylic acid. -08-