Russia's UralMethanolGroup eyes new methanol unit in 2016

06 September 2012 15:20  [Source: ICIS news]

MOSCOW (ICIS)--UralMethanolGroup's planned 600,000 tonne/year methanol production facility at Nizhny Tagil, in the Sverdlovsk region of the Urals, is due onstream in 2016, the Russian firm said on Thursday.

Construction work on the €300m project ($380m) is expected to start in the first quarter of 2013, the company said in a statement.

In 2005, Uralkhimplast first announced plans to build a new methanol plant in cooperation with gas trader Itera, when the two companies formed a joint venture, UralMethanolGroup, to develop the project.

Uralkhimplast is one of Russia's major producers of synthetic resins and plastic products. It earlier pledged to build the new unit by 2013.

By: Sergei Blagov
+44 20 8652 3214

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