01 April 2012 16:51 [Source: ICIS news]
HOUSTON (ICIS)--This might be the year of Trinidad in the North American methanol market, as government officials of the Caribbean island consider a proposal for a $5.3bn project, which would probably be the largest foreign investment ever in the country.
The methanol-to-olefins and methanol-to-petrochemicals plants at Point Lisas are proposed by Saudi Basic Industries Corp (SABIC) and ?xml:namespace>
If approved, the SABIC/Sinopec project would forge an even stronger link between Trinidad and the petrochemical industry, which pays roughly half of all corporation tax collected by the government, according to the Energy Chamber of Trinidad and
The project would also give a needed boost to the island’s petrochemical complex, a
“Keep in mind that
The SABIC/Sinopec project would also mark a major shift in
That shift, described earlier this year by
“There’s more value creation by going downstream,” the source said.
The project has touched off a political debate in
Companies that submitted bids for the
But he said in late March that the proposed SABIC project would receive no government subsidies.
Hosted by American Fuel and Petrochemical Manufacturers (AFPM), the International Petrochemicals Conference (IPC) continues through Tuesday in San Antonio, Texas.
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