18 January 2012 07:00 [Source: ICIS news]
SINGAPORE (ICIS)--Methanex is planning to relocate one of its idled methanol plants at its Cabo Negro complex in ?xml:namespace>
Site-specific engineering has begun and the plant is expected to be operational in the second half of 2014, the company said in a statement.
“The outlook for low North American natural gas prices makes
“We have a number of parallel work paths ongoing and expect to make a final investment decision on this project in the third quarter of this year,” Aitken added.
The relocation project will allow the firm to add capacity at a lower capital cost and in about half the time taken to start up a
“The timing of this project is excellent: there is strong demand growth for methanol globally and there is little new production capacity being added to the industry over the next several years,” he added.
Methanex has four methanol plants with a combined capacity of 3.8m tonnes/year at the Cabo Negro complex in
The financial details of the project were not disclosed in the statement.
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