Metor wants loan to grow capacity

Minocha, Naresh; Gordon, Michael
September 2006
ICIS Chemical Business;9/11/2006, Vol. 1 Issue 34, p27
Trade Publication
This article states that Venezuela's Metanol de Oriente(de Oriente) (Metor) is seeking a loan from the International Finance Corporation (IFC) to more than double its methanol production capacity to 1.6m tonnes/year. The project at the Jose petrochemical complex in the state of Anzoategui will be completed in the second half of 2009, Metor said in its application to borrow $50m from the Washington DC-based IFC, which owns 5% of Metor. The cost projection for the project has risen by $100m to $525m since it was first presented to the IFC back in June 2006. Venezuela state-owned energy company Petroleos de Venezuela will provide the feedstock for the project, Metor said.


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