Methanex moves on Louisiana methanol

Methanex is proceeding with plans to build a 1.8-million-metric-ton-per-year methanol plant in Geismar, Louisiana. The Canadian firm says the plant could cost as much as $1.4 billion and be complete by 2022. The plan to build the unit, which will be Methanex’s third on the site, has been controversial. In March, M&G Investments, which owns 16.5% of Methanex, came out against doing the project without a partner. In a peacemaking deal, M&G got two directors on Methanex’s board and a promise that an independent firm would review the project. The board approved it unanimously.