Orascom Construction Industries' Fertilizer Group has entered into an agreement to acquire minorities in its Texas-based subsidiary, Pandora Methanol.
Pandora Methanol operates an integrated ammonia-methanol plant in Beaumont, Texas, US.
The ammonia-methanol plant will produce 250,000t/year of ammonia and 750,000t/year of methanol.
The plant also has an 18,000t ammonia tank and two 22,000t methanol storage tanks.
The plant is currently being renovated. Ammonia production is expected to begin next week while methanol production is targeted for a 2012 start.
