Regulatory Filings • Mar 21, 2014
Regulatory Filings
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Amsterdam, the Netherlands / 20 March, 2014 7:30 PM
OCI N.V. (Euronext: OCI) announced today that its wholly owned subsidiary, Natgasoline LLC, held a groundbreaking ceremony to mark the commencement of site preparation works for its new greenfield methanol production plant in Beaumont, Texas. Natgasoline LLC is expected to have a capacity of up to 5,000 metric tons per day (tpd), equivalent to approximately 1.75 million metric tons per annum (mtpa), and is expected to start production in late 2016. It will be the first methanol facility of this scale in the United States and will be the country's largest methanol production facility based on nameplate capacity.
Texas Governor Rick Perry commented: "Texas has always been a proud home to bold innovators, so we're delighted OCI is expanding its presence in the Lone Star State. Our low taxes, reasonable and effective regulations, fair courts and worldclass workforce make Texas an ideal destination for anyone seeking to grow their business, and I look forward to seeing this new facility take shape and lead both OCI and the people who'll work here to continued success in the years to come."
OCI N.V. CEO Nassef Sawiris commented: "This is a milestone step in the realization of OCI's natural gas monetization strategy in the United States. We are firm believers in the US economy and in the nation's long-term natural gas advantage versus global competitors and aim to continue to invest in this market. Methanol is a diverse building block for industrial chemicals and has huge potential as a clean direct fuel substitute for vehicles in the United States. Texas has been a welcoming home to our methanol businesses and we look forward to continuing to be a contributing member to the community through the creation of approximately 3,000 construction jobs over the next three years and approximately 240 permanent jobs when the plant commissions."
OCI N.V. is a global producer of natural gas-based chemicals and an engineering & construction contractor based in the Netherlands. The Chemicals segment produces nitrogen fertilizers, methanol and other natural gas based products, serving agricultural and industrial customers from the Americas to Asia. We rank among the world's largest nitrogen fertilizer producers with current production capacity of nearly 7 million metric tons in the Netherlands, the United States, Egypt and Algeria. We are also the largest merchant methanol producer in the United States. The Construction segment provides international engineering and construction services primarily on infrastructure, industrial and high-end commercial projects in the United States, Europe, the Middle East, North Africa and Central Asia for public and private clients. It ranks among the world's top global contractors. OCI N.V. employs more than 72,000 people in 35 countries and is listed on Euronext in Amsterdam.
Hans Zayed Director Email: [email protected]
Erika Wakid Email: [email protected]
Tel: +31 (0) 6 18 251 367
For additional information on OCI N.V.:
OCI N.V. stock symbols: OCI / OCI.NA / OCI.AS / OCINY
Mijnweg 1, 6167 AC Geleen, The Netherlands
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