Chinese firm buys land for Louisiana methanol plant
Yuhuang Chemical Inc. (YCI) — the North American subsidiary of Chinese firm Shandong Yuhuang Chemical Co. — has purchased 1,300 acres in St. James Parish, Louisiana, for a new $1.85 billion methanol complex it plans to build. Via the New Orleans Times-Picayune, YCI has started site preparation and will begin building the first phase of the complex next year.
The site is located along the Mississippi River near a Plains All American Pipeline terminal and tank farm. YCI said it struck a 20-year deal with Transcontinental Gas Pipeline to deliver gas to the complex.
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