FOR IMMEDIATE RELEASE
April 25, 2013
METHANEX ANNOUNCES $550 MILLION METHANOL PLANT PROJECT IN
Two relocated plants will result in more than 1,300 new direct and indirect jobs
GONZALES, La. — Today, Gov. Bobby Jindal and Methanex Vice President of Corporate Development
Gary Rowan announced Methanex Corp. will relocate a second methanol plant from Chile to a 225-acre
site in Geismar, La. In July 2012, Canada-based Methanex announced it was moving a separate plant
from Chile to the Ascension Parish site.
As a result of the first relocation, Methanex is creating 130 new direct jobs, and the project will result in an
additional 996 new indirect jobs in the area. The newest Methanex plant announced today will include a
$550 million capital investment and create 35 new direct jobs. LED estimates the project will result in
another 207 new indirect jobs, for a total of more than 240 new jobs.
Combined, Methanex will be making a $1.1 billion investment in Ascension Parish, creating 165 new
direct jobs and resulting in an estimated 1,203 new indirect jobs. Additionally, construction of the two
facilities will result in approximately 2,500 construction jobs.
Gov. Jindal said, “Methanex’s decision to build a second plant in Louisiana is a continuation of the
renaissance that our energy and chemical industries are experiencing every day. Our world-class
workforce and our strong business climate – coupled with the rising demand for methanol and Louisiana’s
competitive natural gas prices – are what led Methanex to choose Louisiana. Nowhere else will you find
greater workers or a more impressive energy infrastructure than right here in our state. We’re proud that
Methanex joins a long list of companies that are expanding here and taking advantage of Louisiana’s
rapidly improving business climate.”
Methanex is the world’s largest supplier of methanol – a clear, biodegradable ingredient found in
everything from windshield washer fluid to recyclable plastic bottles, plywood floors, paint, silicone
sealants and synthetic fibers. Also a clean-burning fuel, methanol is increasingly used in the energy
sector for blending in gasoline and other fuels.
Louisiana’s competitive natural gas prices, strong business climate and workforce, and chemical industry
infrastructure helped attract the projects to Ascension Parish.
“Methanex is proud to announce this second relocation to Geismar,” Methanex Corp. CEO John Floren
said. “The project is expected to create significant value for our shareholders. It also allows us to
capitalize on the competitive natural gas price environment in North America, and offers significant cost
and schedule savings compared to a greenfield project.”
The state and the Ascension Economic Development Corp. began discussions with Methanex about a
potential methanol plant in August 2011. The company also considered relocating the first methanol plant
from Chile to other states in the U.S. before deciding on the site in Geismar. In addition to natural gas,
ready supplies of hydrogen, oxygen and other industrial gases exist in Ascension Parish, along with easy
access to barge, rail and interstate highway transportation that were all advantageous assets to the
Methanex expects to break ground on the second plant in 2014, with construction lasting for
approximately two years. Hiring for the first methanol plant is under way, and jobs associated with the
second plant will be filled in the year leading up to completion of the project.
To secure the project, LED offered Methanex a $1.2 million performance-based grant for site
infrastructure improvements, along with the services of LED FastStart® – the nation’s No. 1 state
workforce development program. In addition, Methanex is expected to utilize the state’s Industrial Tax
Exemption and Quality Jobs programs.
“It’s unprecedented to have a company announce two $500-plus million projects in our parish within the
same 12-month period and we are thankful for Methanex’s further expansion,” Ascension Parish
President Tommy Martinez said.
“Methanex is already the market leader in their industry,” said President and CEO Mike Eades, who
heads the Ascension Economic Development Corp. “With this latest announcement, Ascension Parish
will become one of the major centers for methanol production in the world, and we thank Methanex for
their faith in our community.”
“The Baton Rouge Area Chamber, in partnership with the Ascension Economic Development Corp.,
worked diligently to recruit Methanex to the Capital Region in 2012,” said Baton Rouge Area Chamber
President and CEO Adam Knapp. “The relocation of a second plant from Chile to Ascension Parish by
this Canadian company is a testament to both the international efforts of the recruitment team, as well as
to the strength of our region.”
Based in Vancouver, British Columbia, Methanex is a publicly traded company and the world’s largest
supplier of methanol to major international markets. Methanex shares are listed on the Toronto Stock
Exchange in Canada under the trading symbol “MX”; on the Nasdaq Global Market in the U.S. under the
trading symbol “MEOH”; and on the Foreign Securities Market of the Santiago Stock Exchange in Chilé
under the trading symbol “Methanex”. For more information, visit www.methanex.com.
Methanex-related media inquiries may be directed to:
Director, Government and Public Affairs
T: +1 (604) 661-2600