RIYADH: Saudi Arabian chemical producer Chemanol plans to expand its methanol plant, aiming to increase its production capacity to 331,000 tons.

The company said it has signed an agreement on Jan. 23 for the plant’s basic engineering design.

Additional output, which amounts to 100,000 tons, will be used as feedstock for future initiatives, including a dimethyl disulfide plant and a methyl diethanolamine factory, in line with Saudi Vision 2030.

The step is crucial for the company’s growth strategy and is expected to have a positive impact of lower production costs, it said in a bourse filing.

Earlier in 2020, Chemanol received the Ministry of Energy’s approval to allocate the required feedstock for the expansion.


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