By MARI IWATA
TOKYO--Mitsubishi Corp. and Mitsubishi Gas Chemical Co. said Tuesday they will study the feasibility of developing and operating a petrochemical project in Trinidad and Tobago that would use the Caribbean country's natural gas as feedstock.
The Japanese companies said they had reached an agreement on the study with the government of Trinidad and Tobago and Neal & Massy Holdings Ltd., a local conglomerate participating in the project.
In the first phase, the proposed plant would produce 1 million tpy of methanol and 100,000 tpy of dimethyl ether. The partners expect to reach a final investment decision by March 2014 and start commercial operations by March 2017, the two Japanese companies said in a statement.
The statement didn't specify an investment value.
The Nikkei said in its Tuesday morning edition the partners would invest about 83 billion yen ($835 million) in the project.
Dow Jones Newswires