Methanex Corp. has restarted its second methanol plant at its Motunui site in New Zealand and production commenced this week, the company said on Thursday.
The addition of the second plant adds 650,000 tpy of capacity and increases the Motunui site capacity to 1.5 million tpy.
"We are delighted to announce the successful restart of a second Motunui plant, said Bruce Aitken, CEO of Methanex.
Our team in New Zealand did a first class job in starting this plant on schedule and at a very reasonable cost. The plant adds a competitive new supply source for our customers in the fast-growing Asian markets and is expected to generate strong returns for shareholders."
With the improved natural gas supply position that has developed in New Zealand over the past several years, we have further opportunities to increase production by debottlenecking the Motunui site and potentially restarting our plant at the nearby Waitara Valley site, Mr. Aitken added.