Belarus’ chemical company OAO Grodno Azot has earmarked $9.6 million in the upgrade of air separation facilities at the methanol plant, a source in the profile ministry reported.
The total value of the upgrade project is estimated at $42.4 million, including $9.6 million of own resources and $32.8 million worth of credits.
The company plans to launch the upgraded air separation equipment in 2018, which will help the methanol plant reduce energy consumption by 20-30% and decrease production costs.
Grodno Azot was set up in 1963 and transformed into an open joint-stock company in 2002. The Belarusian government holds a 99.97% stake.
Grodno Azot is Belarus’ main producer of liquid ammonia, nitrogen fertilizers, methanol, caprolactam, biodiesel fuel. (Prime-TASS/Business World Magazine)
