Brunei to build methanol plant

Brunei has announced plans to build a US$400 million methanol plant, calling it a landmark step toward economic diversification in this tiny nation that relies heavily on oil and gas production. The methanol plant, the first petrochemical plant in Brunei, will have a production capacity of 850,000 metric tons, making it a major project by Brunei standards. Construction is scheduled to begin in mid-2007, but it was not immediately clear when the plant would be operational. Brunei Methanol Co., a joint venture between Brunei’s state-owned PB Petrochemical Co. and Japan’s Mitsubishi Gas Chemical Co. and Itochu Corp., recently signed agreements for the plant’s construction and technical services. (April 13, 2007)