Methanex wins environmental approvals for plant relocation in Louisiana

Methanex on Wednesday was granted all required air permits by the state of Louisiana and the federal Environmental Protection Agency (EPA) to construct and operate its 1 million tpy methanol project in Geismar, Louisiana.

The Geismar project involves relocating the plant from Chile.

"This represents a key milestone for the project," said CEO Bruce Aitken.

"With the air permits now in place, construction on the Geismar site can commence," he added. "Dismantling activities in Chile have been progressing well and the project remains on track to be producing methanol by the end of 2014."

Methanex said it believes the project will create significant value for shareholders, since it can be executed in significantly less time and with less capital than a similar greenfield methanol plant.

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