23 April 2012 23:24 [Source: ICIS news]
HOUSTON (ICIS)--Methanex has signed an offtake agreement to buy a significant portion of the methanol to be produced at a Texas plant when it restarts in June, the Canada-based producer said on Monday.
The plant in Beaumont began producing ammonia in December 2011. Sources close to the plant said earlier this month that it would restart in May, but Methanex’s announcement said it was expected to start producing methanol in June.
Methanex did not return calls immediately. Methanex’s announcement did not provide details on how much methanol the company had agreed to buy when the plant begins production.
The plant is owned by Orascom Construction Industries (OCI), an international nitrogen fertilizer producer and engineering and construction company headquartered in Cairo, Egypt.
OCI Beaumont has a capacity of 250,000 tonnes/year of anhydrous ammonia and has said it will produce 750,000 tonnes/year of methanol. An official at the plant did not return a call immediately.
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