Mitsubishi leads consortium to invest US$850 mln in methanol-to-petrochemicals complex in Trinidad

11-Dec-12

Japan-based Mitsubishi Corp. is leading a group of investors that plan to build a methanol-to-petrochemicals complex in Trinidad, the Trinidad Guardian newspaper reported, citing Trinidad and Tobago's energy minister Kevin Ramnarine. The consortium, which also includes Mitsubishi Gas Chemicals Co., US-based ICCL and local company Neal & Massy Holdings, will invest US$850 mln in the first phase of the project. The project will be based at a 50-hectare (123.6 acres) site near La Brea in southwestern Trinidad. The project will use 100 million standard cubic feet/day of natural gas to produce among other products di- methyl ether (DME), which can be used in Trinidad as a replacement or blending stock for diesel and liquified petroleum gas (LPG). The target date for the first stage of the project is Q1-2014, though it could come as soon as Q4-2013.