Logo of Methanol Chemicals Co. (Chemanol)
Methanol Chemicals Co. (Chemanol) said that the engineering designs of its methanol plant expansion project are in the final stages, with completion anticipated before the end of the first quarter of 2023.
The engineering designs are 95% complete, the company said in a statement to Tadawul.
Any material development will be released in due course.
The delay in the project was due to the late submission of the required information for the completion of the engineering designs by some of the manufacturers.
The company signed, on Jan. 23, an agreement for the preliminary engineering design of the methanol plant expansion with the company that owns the technology for the existing plant, according to data available with Argaam.
On March 1, 2020, Chemanol obtained the Ministry of Energy’s approval for allocating the required feedstock to expand the methanol plant and increase its annual output by 100,000 tons, bringing the annual production to 331,000 tons.
Comments
{{DisplayName}}
{{ElapsedTime}}