18 November 2013 17:39 [Source: ICIS news]
Nameplate production capacity of the plant will be increased to about 912,500 tonnes/year for methanol and 305,000 tonnes/year of ammonia, OCI said in a quarterly earnings filing with the Securities and Exchange Commission (SEC).
Current capacities for the products at the plant are 750,000 tonnes/year for methanol and 250,000 tonnes/year for ammonia, according to the ICIS Plants and Projects database.
OCI had announced the $100m (€74m) debottlenecking project back in April.
“Given our advantageous access and connectivity to customers and attractively priced natural gas feedstock supplies, we believe that we are one of the lowest-cost producers of methanol and ammonia in our markets and intend to capitalise on our competitive position to maximise our cash flow,” the company said in the SEC filing.
“We believe that the prospects for our methanol and ammonia business will remain positive for the foreseeable future because of growing US and global demand for methanol and ammonia, our continued access to attractively priced natural gas feedstock, the United States’ current position as a net importer of both methanol and ammonia and our competitive position in our markets,” OCI added.
($1 = €0.74)
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