Mitsubishi to Expand Methanol in Venezuela

Mitsubishi Corp. and Mitsubishi Gas Chemical (MGC) say they will expand methanol capacity at Metanol de Oriente (Meteor; Jose, Venezuela), their joint venture with Venezuela’s state-owned petrochemical company Pequiven, by 850,000 m.t./year. Meteor currently operates a 750,000-m.t./year methanol plant at Jose. Mitsubishi Heavy Industries has been awarded the construction contract for the new plant on a full turnkey basis. Total investment in the expansion is approximately $400 million, Mitsubishi and MGC say. The new plant is scheduled for completion in...

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