OCI and Janus Joint Venture Acquires Ammonia-Methanol Plant in Texas
Orascom Construction Industries (OCI), a subsidiary of Netherlands-based OCI Nitrogen, has acquired an integrated ammonia-methanol plant located in Texas, US, through a joint venture with Janus Methanol.
The joint venture, which acquired the plant from Eastman Chemical Company, will rehabilitate and operate the integrated methanol-ammonia facility with a $65m investment.
The plant can produce 250,000t of ammonia and 750,000t of methanol a year, and also has an 18,000t-capacity ammonia tank and two 22,000t-capacity methanol storage tanks.
The production of ammonia is expected to begin in the fourth quarter of 2011, while methanol production is targeted to start in 2012.
The joint venture is considering increasing the facility's production and storage tank capacity.