Canadian Firm Mulling US$1-Bln Methanol Plant in Vietnam

The globe's leading methanol supplier, Canada-based Methanax, has recently advanced its interest with the Vietnamese Ministry of Planning and Investment to build a methanol manufacture plant in southern Ba Ria-Vung Tau province at a total cost of US$1 billion, the Vietnam Investment Review newspaper reported.

 

The plant is capable of producing between 1.3 million and 1.6 million tons of methanol a year. The product will be sold domestically and for export.

 

Methanex's Corporate Development is considering either the Middle East or Vietnam to build new facilities, but Vietnam seems to be preferred for having qualified natural gas supply and having favorable sea transport networks.

 

The facility will need up to 2 trillion cubic feet of natural gas over 20-25 years, according to Methanex's calculations.

 

Methanol is a key feedstock in diversified derivative streams including energy applications, building materials, and food value chains.

 

In a recent report to the prime minister, the Ministry of Industry and Trade proposes to build a methanol plant with an annual capacity of 600,000 tons. (VIR)