US Methanol Chinese–US Group Plans World–Scale Methanol Projects in the US
China wants a piece of the shale gas action: According to US media, Chinese-American Northwest Innovation Work plans to invest around US $ 2 billion in methanol plants in the states.
Salem, Oregon/USA – The professional magazine ChemWeek reported that Northwest Innovation Work (NWIW) plans to build two world–scale methanol sites in Oregon and Washington for US $ one billion each. Products from the plants shall be shipped over to Chinese olefins facilities. NWIW is a group of PPE, a Chinese joint–venture with H&Q Asia Pacific, an American private equity firm.
According to company insiders, construction works at the sites could begin this year. Completion of the facilities is planned for 2017. A full commercial scale operation could be achieved by 2018. Chinese customers have already backed the project with substantial fundings. Construction for methanol storage site is already underway in China, ChemWeek reports.