Methanex inks offtake deal with OCI for restarted Texas methanol plant
Canada-based Methanex has entered into a long-term offtake agreement with Orascom Construction Industries (OCI) for a significant portion of the production from the OCI methanol plant in Beaumont, Texas.
The plant, which had been idled prior to its purchase by OCI, will commence commercial methanol production in June 2012.
OCI has said the Beaumont plant will produce 750,000 tpy of methanol.
The plant also has a capacity of 250,000 tpy of ammonia, which OCI began producing in December 2011.
“We are pleased to be entering into this agreement with OCI, which will complement our supply capability to our customers in North America,” said Vanessa James, Methanex vice president of marketing and logistics for North America.
Financial terms were not disclosed.
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