Methanex Corp to move Chile plant to Louisiana

Thu Apr 25, 2013 9:06am EDT
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April 25 (Reuters) - Methanex Corp, a Canadian producer of methanol, said late on Wednesday that it was moving a second plant from Chile to Geismar, Louisiana.

Moving the second, 1-million-tonne plant to Louisiana allows Methanex to take advantage of relatively low-priced natural gas, from which methanol is made, Chief Executive John Floren said.

The plant was expected to start up in early 2016 and cost $550 million.

Methanol is a liquid chemical used to make industrial and consumer products such as building materials and plastics.