Methanex Corp. is going to continue the construction of the Geismar 3 project in Ascension Parish, Louisiana in October 2021.
The project’s total capital cost is estimated to be USD1.25-1.35 billion, lower than the previous prediction for USD1.3-1.4 billion on the back of a significant reduction in its execution risk profile. The construction will be funded by cash on hand and future cash flow without incurring incremental debt at methanol prices of around USD275/ton and higher.
The company plans to start producing methanol from the plant by the end of 2023 or early 2024. Previously, it was planned for 2022. The facility will create 62 permanent jobs for a total of 230 jobs across all three plants in Geismar.
