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” said Paul Moore, CEO of South Louisiana Methanol. “SABIC brings years of proven methanol operating experience in the Gulf Coast and a global distribution network.”
The plant will be the largest methanol production plant in North America, with a capacity of more than 2 million metric tons annually, 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.