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People & Business :: Earnings/Finance
Mitsui & Co. to take 50% stake in Celanese methanol project at Clear Lake, TX
2:23 PM MDT | May 21, 2013
Mitsui & Co. has reached an agreement to take a 50% stake in Celanese’s planned methanol project at Celanese’s Clear Lake, TX, site. Celanese announced the project last June. The total shared capital and expense investment in the facility is estimated to be about $800 million. Celanese’s portion of the investment is estimated to be about $300 million. The planned methanol facility will have a capacity of 1.3 million m.t./year and is expected to begin operations in mid-2015. The planned methanol unit will use low-cost natural gas in the US...
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