Chemanol Signs Engineering Design Work Agreement for Methanol Plant Project

The Methanol Chemicals Company announced on Monday that it has signed on Sunday 23.01.2022 an agreement for basic engineering design to expand the Methanol plant with the company owning the technology of the existing Methanol plant.

The company indicated that this increase will be used as feedstock for the establishment of the Company’s expansion plants as announced earlier. Hence, the expansion of the Methanol plant is considered as a fundamental pillar for the Company’s expansion strategy, and it will contribute to achieve the objectives of the Saudi Energy Efficiency Program and will have a positive impact in lowering the production costs.

Chemanol will announce any material developments related to these projects in due course in accordance with the relevant laws and regulations.

This comes with reference to Methanol Chemicals Company’s announcement on Tadawul website on 02.03.2020 with regard to obtaining the approval of the Ministry of Energy for allocating the required feedstock to expand the Methanol plant to increase its output to 331,000 tons per year by adding around 100,000 tons, the company concluded.