Hundreds of children had their second day of fun in the sun with another day of Kiddies Carnival in Downtown Port-of-Spain yesterday. From toddlers to babies in strollers to teens they all came...
You are here
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.
User comments posted on this website are the sole views and opinions of the comment writer and are not representative of Guardian Media Limited or its staff.
Guardian Media Limited accepts no liability and will not be held accountable for user comments.
Guardian Media Limited reserves the right to remove, to edit or to censor any comments.
Any content which is considered unsuitable, unlawful or offensive, includes personal details, advertises or promotes products, services or websites or repeats previous comments will be removed.