The Saudi firm Sabic is in negotiations to participate in a $2.2 billion methanol plant in St. James Parish, Louisiana. The project, dubbed South Louisiana Methanol, has been in the works since 2013 as a joint venture between Texas-based Zeepand the New Zealand firm Todd. It is expected to have capacity of 2 million metric tons of methanol per year. Preliminary work has begun on the site, and with Sabic’s backing, construction could begin in earnest later this year. Sabic says the project aligns with its strategy of geographically diversifying its business.