Methanex (MEOH) to Restart Second New Zealand Methanol Plant; Will Cost $60M
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Methanex Corporation (Nasdaq: MEOH) plans to restart the second methanol plant at its Motunui site in New Zealand.
The plant is expected to commence production in mid-2012 and will add up to 650,000 tonnes of incremental capacity per year. Methanex has signed a 10-year agreement with New Zealand-based Todd Energy to supply natural gas for up to half of the 1.5 million tonnes of annual capacity at the Motunui site.
The plant has been idle since 2004 and the estimated future capital cost to restart is $60 million.
The plant is expected to commence production in mid-2012 and will add up to 650,000 tonnes of incremental capacity per year. Methanex has signed a 10-year agreement with New Zealand-based Todd Energy to supply natural gas for up to half of the 1.5 million tonnes of annual capacity at the Motunui site.
The plant has been idle since 2004 and the estimated future capital cost to restart is $60 million.
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