15 May 2013 09:44 [Source: ICIS news]
SINGAPORE (ICIS)--US-based Celanese Corp and Japanese company Mitsui have entered into a joint venture to set up a 1.3m tonne/year methanol plant at Celanese’s integrated chemical plant in Clear Lake, Texas, the companies said on Wednesday.
The unit will utilise “abundant, low-cost natural gas" in the U.S. Gulf Coast region as a feedstock and will benefit from the existing infrastructure at Celanese’s Clear Lake facility, the companies said in a joint statement.
“As a result, the total shared capital and expense investment in the facility is estimated to be approximately $800m (€616m),” it added.
Celanese’s portion of the investment is estimated to be approximately $300m, in addition to the previously invested assets at the Celanese Clear Lake facility, the statement said.
Operations are expected to begin in mid-2015, the companies said.($1 = €0.77)
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