Last update: 30-Jul-2014 5:59 am
Wednesday, July 30, 2014
Trinidad & Tobago Guardian Online
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Neal and Massy/Mitsubishi project: Investment nod to come in September
The goal posts have been moved. The new deadline for construction of the Neal and Massy/Mitsubishi dimethyl ether (DME) and methanol plants will be in the first quarter of 2015 by the Mitsubishi-led consortium, said Chikara Jitsumatsu, director of Caribbean Gas Chemical Ltd, the special purpose company formed to develop the project. While the original date for the start of construction was the fourth quarter of 2014, the new date has been pushed forward to the first quarter of 2015.
“We do not consider there has been a serious delay in the project. The original target timeline was a very aggressive one, with the premise of everything being fast tracked. In our experience all over the world, actual project development activity takes, on average, half a year or more compared with the original fast track target timeline for this one.
“The original target was to reach final investment decision (FID) by the end of March 2014, and our current target of FID is August/September 2014,” he told the Guardian.
The three developers for the project are Neal and Massy, Mitsubishi Gas Chemical and Mitsubishi Corporation.
In an e-mail, Caribbean Gas Chemical said Neal and Massy’s role in the project will be to provide wide range of local industrial expertise, lead of negotiation with Government and be a potential partner with Mitsubishi for more projects in T&T or international projects.
Two plants will be built, one is methanol and the next one is the dimethyl ether plant on the La Brea Union Estate.