SABIC halts plans to build US$5.3 bln methanol complex in Trinidad

05-Mar-13

SABIC has decided not to continue with its planned US$5.3 bln methanol complex in Trinidad and Tobago after the relevant parties failed to agree on unspecified fundamental conditions, as per Zawya Dow Jones. AS per a statement by SABIC, “the relevant parties did not reach a deal on the fundamental conditions for this project and Sabic's decision in consultation with the concerned parties on March 3 was not to continue negotiations on this project." Sabic and its Chinese partner Sinopec, obtained last year the approval of Trinidad and Tobago to build the complex after bidding against other international companies.