Consolidated Energy Limited has agreed to buy a 50% stake in OCI’s greenfield methanol plant project in Beaumont, Texas, for $680 million. The investment, to be made via Consolidated Energy subsidiary G2X Energy, will complete the project’s funding requirements. OCI subsidiary Natgasoline began construction on the 1.75-million-metric-tons-per-year plant in late 2014 and expects to start production in the second half of 2017. It will be the largest methanol production facility in the U.S.
Houston-based G2X Energy is also building a 1.4-million-metric-ton-per-year methanol plant in Lake Charles, Louisiana. The firm started up commercial operations at a new methanol plant in Pampa, Texas, last June.
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