Logo of Methanol Chemicals Co. (Chemanol)
Methanol Chemicals Co. (Chemanol) announced the completion of initial engineering designs for the methanol plant expansion project, as well as the release of a tender for specialized contracting companies to bid on the project's construction.
In a statement to Tadawul, Chemanol said that it is still selecting a qualified contractor to implement the project, indicating that the tender procedures are already 75% complete so far.
The delay was attributed to some manufacturers' failure to provide the information needed to complete the engineering designs, as well as a lack of full-time qualified contractors, the majority of whom are involved in other projects in the petrochemical sector.
Any developments regarding the expected completion date of the project will be announced in due course, the statement added.
In March 2020, the company obtained the Ministry of Energy’s approval for allocating the required feedstock to expand the methanol plant to increase its annual output by 100,000 tons to 331,000 tons per year, according to data available with Argaam.
In Jan. 2022, Chemanol signed an agreement for preliminary engineering design for the methanol plant expansion with the company that owns the technology for the existing plant.
Later in Jan. 2023, the company announced that the engineering designs were in the final stages.
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