25 October 2013 04:58 [Source: ICIS news]
SINGAPORE (ICIS)--International Methanol Co (IMC) restarted its 1m tonne/year methanol plant at Al-Jubail in Saudi Arabia this week after it was shut down due to technical reasons, a company source based in Saudi Arabia said late on Thursday.
The plant was taken off line on 19 October and operations were resumed this week. The source did not say the exact date of the restart and its current operating rate.
Market sources said this was a brief shutdown and will not have much impact on the supply situation.
The company has no spot to offer currently and was only meeting contractual obligations. However, it will resume offers from the middle of the next month, the source added.
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).
Additional reporting by Fahima Khail
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