Egypt methanol JV set for Q1 2010 completion

17 June 2008 18:31  [Source: ICIS news]

BAHRAIN (ICIS news)--Egypt’s 1.26m tonne/year joint venture (JV) methanol project is set for completion in the first quarter of 2010, a senior source from Egyptian Petrochemical Holding Co (Echem) said on Tuesday.

The project, a joint venture of Methanex, Echem and other Egyptian partners, is 35% complete, said Osama Kamal, vice-chairman for planning and projects and member of the board for Echem, on the sidelines of the Middle East Petrochemicals 2008 conference.

Methanex would off take all the methanol for global distribution, he added.

The project is located at Damietta on the Mediterranean coast. ICIS news had earlier reported the project had achieved financial closure.

The Middle East Petrochemicals 2008 conference concludes on Tuesday.

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By: Malini Hariharan
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