South Louisiana Methanol (SLM) and SABIC have signed an initial agreement regarding a world-scale methanol plant in St. James Parish, Louisiana. Closing of the agreement is conditional upon regulatory approvals and financing.
SABIC is a global leader in diversified chemicals headquartered in Riyadh, Saudi Arabia. It manufactures in the Americas, Europe, Middle East and Asia Pacific.
“SLM is pleased to announce the project agreement with SABIC, who bring years of proven methanol operating experience and a global distribution network” said Paul Moore, CEO of South Louisiana Methanol. “We are pleased to be based in St James Parish, with great Mississippi river and gas feedstock access, and a business-friendly community and state”
The plant will be the largest methanol production plant in North America, with an annual capacity of more than 2 million metric tons, and will supply the domestic and international markets. The project is expected to create approximately 650 construction jobs in Louisiana and elsewhere, 75 direct operating jobs and 350 indirect operating jobs in Louisiana.