OCI N.V. (Euronext: OCI), Consolidated Energy Limited (“CEL”) and Natgasoline LLC have today announced the start of commercial methanol production at their 5,000-metric ton per day, or 1.8 million metric tons per annum, methanol plant in Beaumont, Texas. The plant will continue its ramp-up in the coming weeks while under-going normal fine-tuning of equipment.
The world class facility, which was completed in April, will be the United States’ largest methanol production facility. It is the only new capacity expected in the Americas to come online in 2018.
“The successful start of production at Natgasoline is a significant step forward in our capacity expansion program and marks the completion of OCI’s second major greenfield facility in the United States within as many years”, said Nassef Sawiris, Chief Executive Officer of OCI N.V. “Natgasoline helps to position OCI as one of the largest merchant methanol producers globally, thus providing an enhanced platform to serve our customers better, while generating attractive returns for our shareholders.”
CEL, a global leader in methanol, is a subsidiary of Proman Holding AG (“Proman”) and Helm AG. David Cassidy, CEO of Proman and Chairman of CEL and Natgasoline said, “I am delighted to see the Natgasoline facility come online. Its considerable production capacity will be instrumental in meeting customer demand for methanol. It is also an important operational milestone for us, allowing us to diversify our operations and grow our production capacity in the U.S. market.”
OCI and CEL will lead the effort in marketing and distribution of Natgasoline’s product, supporting sales through their respective distribution networks. In addition, the sponsors will contribute key management personnel and provide technical leadership in the startup, operations and maintenance of the facility.
