OCI N.V. Announces Groundbreaking Ceremony at Natgasoline LLC
20 March 2014
OCI N.V. (Euronext: OCI) announced today that its wholly owned subsidiary, Natgasoline LLC, held a groundbreaking ceremony to mark the commencement of site preparation works for its new greenfield methanol production plant in Beaumont, Texas. Natgasoline LLC is expected to have a capacity of up to 5,000 metric tons per day (tpd), equivalent to approximately 1.75 million metric tons per annum (mtpa), and is expected to start production in late 2016. It will be the first methanol facility of this scale in the United States and will be the country’s largest methanol production facility based on nameplate capacity.
Texas Governor Rick Perry commented: “Texas has always been a proud home to bold innovators, so we’re delighted OCI is expanding its presence in the Lone Star State. Our low taxes, reasonable and effective regulations, fair courts and world-class workforce make Texas an ideal destination for anyone seeking to grow their business, and I look forward to seeing this new facility take shape and lead both OCI and the people who’ll work here to continued success in the years to come.”
OCI N.V. CEO Nassef Sawiris commented: “This is a milestone step in the realization of OCI’s natural gas monetization strategy in the United States. We are firm believers in the US economy and in the nation’s long-term natural gas advantage versus global competitors and aim to continue to invest in this market. Methanol is a diverse building block for industrial chemicals and has huge potential as a clean direct fuel substitute for vehicles in the United States. Texas has been a welcoming home to our methanol businesses and we look forward to continuing to be a contributing member to the community through the creation of approximately 3,000 construction jobs over the next three years and approximately 240 permanent jobs when the plant commissions.”