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Mitsui & Co. to take 50% stake in Celanese methanol project at Clear Lake, TX

12:00 AM MDT | May 15, 2013 | Deepti Ramesh

Celanese and Mitsui & Co. have agreed to form a 50-50 joint venture for a previously announced project to produce methanol at Celanese's integrated chemical plant at Clear Lake, TX. Celanese announced last June that it will build a methanol production facility at its Clear Lake complex. 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, in addition to the previously invested assets at the Celanese Clear Lake facility. The...

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