OCI N.V. Announces Groundbreaking Ceremony at Natgasoline LLC
Mar 20, 2014
OTC Disclosure News Service
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.
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
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.?
This release includes additional documents. Select the link(s) below to view.
Natgasoline LLC Groundbreaking Final.pdf
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