In October 2009, the privately owned Azerbaijan Methanol Company (AzMeCo) announced it wasplanning a world scale, US$330mn methanol manufacturing complex at Karadagh. The decision followedthe approval by the European Bank for Reconstruction and Development (EBRD) to provide US$120mnof finance for the project. AzMeCo purchased the ICI process plant, originally based at Clear Lake inTexas, US, from Celanese and refurbished it in the US before shipping the equipment to Azerbaijan. It will have capacity of around 620,000tpa with completion scheduled for Q311. The financing packageprovided by EBRD includes a US$90mn loan and a US$30mn equity facility. The International Bank ofAzerbaijan will co-finance the project. Surplus output from the plant will be transported to the Black Seaport of Poti for export to the world markets. AzMeCo has secured gas supplies from Azerbaijan's statecompany Azerigazngl at a fixed price for 20 years. Capacity of the plant will be further increased aftercompletion of AzMeCo’s phase two investment program, which involves construction of a 255,000tpaammonia plant and 500,000tpa urea unit at the site. EBRD invested in the project on the premise that itwould stimulate the development of a petrochemical cluster at Karadagh, generating more investment andemployment opportunities.
View Top Employees from AzMeCo Azerbaijan Methanol CompanyWebsite | http://www.azmeco.com |
Revenue | $29 million |
Employees | 70 (56 on RocketReach) |
Founded | 2008 |
Address | 20 Afiyaddin Jalilov St Fl 2, Baku AZ1024, AZ |
Phone | +994 12 598 35 40 |
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Industry | Oil and Gas, Energy, Utilities & Waste Treatment General, Energy, Utilities & Waste Treatment |
Web Rank | 22 Million |
SIC | SIC Code 131 Companies, SIC Code 13 Companies |
NAICS | NAICS Code 21112 Companies, NAICS Code 211 Companies, NAICS Code 21 Companies, NAICS Code 2111 Companies |
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The AzMeCo Azerbaijan Methanol Company annual revenue was $29 million in 2024.
Jd-Mba Pavan Sohal is the Executive Director, International Markets of AzMeCo Azerbaijan Methanol Company.
56 people are employed at AzMeCo Azerbaijan Methanol Company.
The NAICS codes for AzMeCo Azerbaijan Methanol Company are [21112, 211, 21, 2111].
The SIC codes for AzMeCo Azerbaijan Methanol Company are [131, 13].