In last week's methanol plant (AzMeCo) of Azerbaijan (in Garadagh district of Baku) has suspended its activities. Representative plant Hatamov Fuad said that the plant has suspended operations due to the cessation of gas supplies by SOCAR. Natural gas is the main raw material for the plant.
However, both told the agency Turan in SOCAR, AzMeCo did not want to pay for the raw materials used at the market price.
Yesterday, the local press reported that the owner AzMeCo Nizami Piriyev detained by law enforcement agencies in Baku. The Court chose to regard a measure of restraint in the form of arrest for a period of 4 months. According to information Piriyev accused of fraud and embezzlement of public property.
Methanol plant began production only in 2014. Last year the plant has exported 100 thousand methanol. Company products in the local market is not realized. Among the clients of the plant as BP International.—0--
Economics
-
Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
-
The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
-
An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
-
On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
Leave a review