Chemanol picks contractor for methanol plant expansion

Logo of Methanol Chemicals Co. (Chemanol)

Methanol Chemicals Co. (Chemanol) finalized the procedures for picking the contractor to implement the methanol plant expansion project in accordance with the company’s mechanism, according to a statement on Tadawul.

The delay in appointing a contractor from the previously announced date was due to the lack of full-time qualified contractors as most were engaged in other projects in the petrochemical sector.

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Last November, the company announced the completion of initial engineering designs for the methanol plant expansion project and the release of a tender for specialized contracting companies to bid on the project's construction.

In March 2020, Chemanol obtained the Ministry of Energy’s approval for allocating the required feedstock to expand the methanol plant to increase its annual output by 100,000 tons to 331,000 tons per year, according to data available with Argaam.