West Virginia Methanol has selected a site in Pleasants County in northern West Virginia, USA for a $350 million methanol plant, Washington Times reported.
The plant will produce 900 metric tons per day of high-purity methanol from natural gas in the Appalachian Basin.
West Virginia Methanol, with headquarters in Charleston, West Virginia, is working on permitting and final design details.
It expects to make a final investment decision on the project near Parkersburg, West Virginia, in the first half of 2021. Operations could begin as early as mid-2023, officials said.
The company said it will use a technology developed by Haldor Topsoe to produce methanol in three units at the plant.
The plant site has access to roads, railroad and river transportation and is near a major natural gas pipeline. Other required utilities are on site or nearby, the statement said.
Methanol is used in chemical industry production and is a mainstay in the automotive industry as a fuel blend. Its diverse use also includes the making of plastics and plywood.