Azerbaijan Methanol Company reorganized
By Trend
Azerbaijan Methanol Company (AzMeCo) has announced its reorganization through a merger with the Froil LLC and Caspian Trading LLC, the Vergiler newspaper of Azerbaijan’s Taxes Ministry reported on December 7.
AzMeCo has been registered in the “single window” system of the Taxes Ministry due to its reorganization.
Currently, a process is underway to transfer AzMeCo to the ownership of Azerbaijan’s state oil company SOCAR. It is expected that the process will be completed until the end of 2016.
AzMeCo is one of the big investments in Azerbaijan’s non-oil sector. The plant started to sell its products in January 2014. Annual production capacity of the plant is 720,000 tons.
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