A $500 million methanol plant has been proposed to be built near Darwin in the Northern Territory and the project has the possibility to create up to 1,000 jobs during construction as well as about 350 direct and indirect ongoing jobs.
Chemical company Coogee will be developing the methanol plant, with a feasibility study already underway.
Methanol is utilised as an additive to fuel and in the manufacturing of various products such as textiles and pharmaceuticals.
“There is enormous opportunity in the Territory to build a manufacturing hub, which will create many hundreds of permanent local jobs. I have long said the Northern Territory can be a world class hub for gas production and manufacturing - it is a value-add industry right here in the NT.
“I’ve met with Coogee and have been encouraging them to invest right here in the Top End,” Chief Minister Michael Gunner said.
The methanol plant is going to be built at the Middle Arm industrial precinct and it is set to have a capacity of about 350,000 tonnes per annum.
A final investment decision for the project is anticipated to be made by the first quarter of 2021 and construction on the new facility to begin soon after. The new methanol plant is due to be operational in 2024.
“The proposed methanol plant will be strategically located in Darwin to take advantage of its abundant gas supply and its proximity to the south east Asia market. The proposed plant will use innovative, low-emission technology,” Coogee Chief Executive Officer and Managing Director Dr Grant Lukey said.
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