The methanol project of Heemei Group is expected to go into operation ahead of schedule
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As of July 25, the 600,000-ton methanol project of Heemei Group has accumulated construction investment of 3.478 billion yuan since its commencement, accounting for 97.77% of the total investment required, and is expected to go into operation ahead of schedule. At present, the civil engineering work is largely completed. The installation of water supply and drainage, power steam, synthesis, distillation, and air separation units is almost finished, while the construction work for gasification, shift reaction, acid removal, compression, etc. is more than halfway done. At the same time, individual and combined tests were gradually carried out on the various unit installations that met the requirements; the main step-down station and the instrument air compression station have been built and put into operation. The demineralized water station produces qualified demineralized water, and the availability of water, electricity, and gas provides the necessary conditions for testing the subsequent installations. Source: International Coal Network
This device is finally nearing completion. The price of methanol remains acceptable at the moment, but it’s unclear when the price of olefins will change; if it doesn’t change, it is likely to have an impact on the price of methanol.