15 February 2013 09:37 [Source: ICIS news]
SINGAPORE (ICIS)--International Methanol Co (IMC) restarted its 1m tonne/year methanol plant at Al-Jubail in Saudi Arabia and is currently running at 100% capacity, a company source said on Friday.
The plant was shut for maintenance on 15 January and was restarted this week.
Market sources said the shutdown has contributed to more tightness in supply as some producers diverted cargoes to Europe because of higher profit.
IMC is a 65:35 joint venture between Saudi International Petrochemical (Sipchem) and Japan-Arabia Methanol Co (JAMC).
JAMC is a subsidiary owned by a consortium of Japanese companies including Mitsui & Co (55%), Mitsubishi Corp (15%), Daicel Chemical Industries (15%) and Iino Kaiun Kaisha (15%).
Other major methanol producers in the region include SABIC, Oman Methanol and Iran’s National Petrochemical Co (NPC).
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