EuroChem suspended the construction of a methanol plant in Kingisepp
EuroChem has decided to suspend the construction of a methanol plant in Kingisepp (Leningrad region). The capacity of the enterprise could be 2.5 million tons.
According to a source close to the company, as of today, the EuroChem project in Kingisepp has been suspended due to the current geopolitical situation. If the situation changes, the project can be resumed.
In addition to the methanol plant, EuroChem planned to build a port terminal and a methanol pipeline. The cooperation agreement was signed between the authorities of the Leningrad region and the company in June 2021. The volume of investments amounted to 132 billion rubles (over $1.6 billion). The commissioning of the enterprise was planned for 2026.