Asia/Pacific News
Chinese Firm to Build 10,000 MT/Year Synthetic Methanol Plant
A Chinese firm is planning to build a plant capable of producing 10,000 mt/year of synthetic methanol for the shipping industry.
The firm is expected to start construction next month, according to agency Environmental Marine Technology, which is working with the Chinese firm.
The $60 million project is due for completion in June 2024.
The company is also carrying out a feasibility study looking at the possibility of stetting up a separate green methanol plant with 500,000 mt/year of capacity. If approved, construction would start on this project in the second half of next year, with production starting from the second half of 2025.
"Before the project commencement, the company has already obtained a letter of purchase intention from well-established shipping companies from liners, oil tankers, and bulk carriers," Environmental Marine Technology said in a LinkedIn post on Wednesday.
"Furthermore, ongoing negotiations with multiple other shipping companies are underway to secure pre-purchase agreements for green methanol.
"Considering the global focus on energy conservation and emission reduction, green methanol is anticipated to emerge as the preferred fuel choice for ship owners in the future."
