Methanex and BP Award Lurgi Contract to Build Grassroot Methanol Plant in Trinidad

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Researched by Industrialinfo.com (Industrial Information Resources, Inc; Houston, Texas). Methanex Corporation (Vancouver, Canada) (Nasdaq: MEOH and TSE: MX) and BP (NYSE:BP) (London, England) have awarded Lurgi AG (Frankfurt, Germany) construction of a $400 million grassroot methanol plant called the `Atlas Project` to be built in Port Lisas, Trinidad. Construction of the 1.7 million ton per year plant is planned to begin during the fourth quarter of this year with completion in 2004. Pierre Choquette, President and CEO of Methanex, maintains that the location of the Atlas Project is key to providing access to both the U.S. and European markets.

Methanex is a global leader in methanol production. The company has an extensive logistics network to transport methanol from its production sites in Chile, New Zealand and North America to customers in every major market worldwide.