Presented by Dallas Business Journal
Celanese Corp. has partnered with a Japanese company to explore building a methanol production plant in Bishop near Corpus Christi.
Irving-based Celanese (NYSE: CE) and Tokyo-based Mitsui & Co., Ltd. are considering a joint venture for the facility. The decision on whether to build depends on the market demand for methanol and the cost to construct the plant.
It would be capable of producing 1.3 million tons of methanol per year. The compound is used for everything from waste water purification to feedstock for making plastic.
The deal also includes a stipulation for Celanese to purchase methanol from Mitsui for five years.
“Together with Mitsui, we will explore the benefits of an additional unit at our Bishop, Texas facility to ensure our long-term and competitive supply of methanol,” said Mark Rohr, chairman and CEO of Celanese.