Could this be the next big investment in NT?

Published On : 20 Sep 2019

Darwin could soon be home to a new $500 million methanol plant. The project is expected to create up to 1,000 jobs during construction and about 350 direct and indirect ongoing jobs.

Methanol is utilised as an additive to fuel and in the manufacturing of various products such as textiles and pharmaceuticals.

Chemical company Coogee will be developing the methanol plant, with a feasibility study currently underway.

The final investment decision for the project is anticipated by the first quarter of 2021 and the construction of the new facility to begin soon after.

This plant aims to produce 350,000 tonnes of methanol per year and is expected to be operational by 2024.

The project follows Chief Minister Michael Gunner’s five-point NT Gas Strategy, which aims to drive the Territory Government’s vision of making the region a world class hub for gas production, manufacturing and services by 2030.

Chief Minister Michael Gunner said, “There is enormous opportunity in the Territory to build a manufacturing hub, which will create many hundreds of permanent local jobs. I have long said the Northern Territory can be a world class hub for gas production and manufacturing - it is a value-add industry right here in the NT.”

 

Content is sourced from:

https://www.insideconstruction.com.au/index.php/2019/09/09/planned-methanol-plant-to-create-1000-construction-jobs/

https://blog.plantminer.com.au/500m-methanol-plant-project-in-nt-to-support-thousands-of-jobs

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