U.S. Celanese Seeking to Build US$1.3B Methanol Plant in Vietnam

U.S. Celanese Corporation (CE), a global producer of chemical and advanced materials, is seeking a location in Vietnam to build a methanol manufacture plant costing between US$1 billion and US$1.3 billion.

 

The location must ensure coal, natural gas, ethylene, water, and electricity supply sources, as well as storehouse and shipping port systems for the plant, the Texas-based firm said.

 

According to Vietnam’s national chemical industry development plan by 2010 with a vision for further development through 2020, approved by the government in 2005, the Southeast Asian country will build a methanol plant with an annual capacity of 660,000 tons in the southern province of Ba Ria-Vung Tau.

 

If CE chooses the southern province to build its expected plant, the corporation may start preparations to build the plant after pledging with the state-run oil monopoly PetroVietnam Group and the state-owned Electricity of Vietnam (EVN) to ensure raw materials stable supply for the plant.

 

Methanol is a key feedstock in diversified derivative streams including energy applications, building materials, and food value chains. Vietnam is currently importing all of the product. (Investment)