Beaumont: Natgasoline's $1B boon plus 240 jobsBeaumont: Natgasoline's $1B boon plus 240 jobshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=56522013-11-21T11:43:00Z2013-11-21T06:45:00Z

BEAUMONT - Natgasoline LLC will build a new methanol plant, which means 3,000 construction jobs, 240 permanent jobs when production begins in late 2016 and a projected capital investment of over $1 billion.

The plant, situated on 514 acres, will be the country's largest methanol production facility based on rated capacity.

The new facility will convert natural gas into methanol, a key building-block chemical of which the United States imports 80 percent of its demand.

The Texas Enterprise Fund awarded the project a grant of $2.1 million from the Texas Enterprise Fund, as well as incentive commitments from local entities, including the City of Beaumont, Jefferson County, the Beaumont Independent School District, the Port of Beaumont and the Sabine-Neches Navigation District.

Natgasoline LLC is a wholly owned subsidiary of Egypt-based OCI N.V.

Read more at the Beaumont Enterprise and KBMT TV.

Beaumont Enterprise
Beaumont-Port Arthur
http://www.beaumontenterprise.com/news/article/new-oci-plant-means-3-000-construction-jobs-4998313.phpRead more at {Source}

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