AEON to build methanol plant in Volgograd
In Russia, PortNews reported that Promyshlenniye Technologiyi (PromTech), a company of AEON will build a methanol plant in Volgograd with investments expected to exceed $1.17 billion.
By 2026, the plant’s annual capacity is expected to reach 1 million tons, according to the report. The construction of the new facility will generate 500 jobs.
“Large-scale production in the gas and chemicals industry is very capital-intensive despite its high profitability. Maximum efficiency is achieved with annual production from 1 million tons. It is especially important to emphasize that the methanol project in Volgograd has not been halted or frozen amid the sanctions of unfriendly countries,” said Bakhtier Kasimov, General Director of the Promtech.
Category: Fuels
