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Mitsubishi finalises Methanol plant in Trinidad & Tobago
08
Sep '15
Three divisions of Japan based Mitsubishi Group said they have reached a final investment decision for the construction of a methanol and dimethyl ether plant to be constructed in Trinidad and Tobago.

Mitsubishi Gas Chemical (MGC), Mitsubishi Corporation (MC) and Mitsubishi Heavy Industries (MHI) have finalised the same with Japan Bank for International Corporation (JBIC) and the Bank of Tokyo-Mitsubishi UFJ (BTMU).

“This step signals a step forward towards implementing the project, which is being set-up in partnership with National Gas Company of Trinidad and Tobago Ltd. (NGC) and Trinidad and Tobago's Massy Holdings Ltd.

Methanol is made mainly from natural gas and is used in a wide range of products, including adhesive agents, agricultural chemicals, paints, synthetic resins, and synthetic raw materials.

Dimethyl ether can be used as a substitute for LPG or as a substitute for diesel in automobiles and in power generation and so is considered a source of next-generation clean energy.

Methanol produced under the project will be marketed worldwide by MGC, MC and Massy and the company will also work closely with the government to promote use of dimethyl ether as a substitute for diesel.

“Plant design and construction will be undertaken by MHI under an EPC contract with the parties,” a Mitsubishi press release informed.

According to Mitsubishi, global demand for methanol is currently 65 million tons per year, and this demand is expected to see continued growth in keeping with growths in GDP.

The company will by using natural gas produced in Trinidad and Tobago as the main source of raw materials for producing methanol, a basic chemical, and dimethyl ether, a liquefied gas.

“The project will make a contribution to economic growth in Trinidad and Tobago and the Caribbean region while at the same time helping to satisfy the growing global demand for methanol,” it added.

The proposed plant will produce one million tons per annum of methanol and 20,000 tons per year of Dimethyl Ether and will be set-up at an investment of $990 million.

The scheduled mechanical completion date is December 2018 and is expected to begin commercial production in March 2019. (AR)

Fibre2Fashion News Desk – India

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