Early work has started on a $500 million gas and chemical development in Northern Australia.
Coogee recently started a feasibility study for its new Middle Arm Methanol Plant on Middle Arm Peninsula, about 14 km west of Darwin.
1350 jobs promised
The project involves building a 350,000 tonne per annum methanol plant at the Middle Arm Industrial Precinct. The product will be used as a fuel additive and to manufacture products like textiles and pharmaceuticals.
A final investment decision is expected to be announced in April 2021. Construction will start soon after and end in the year 2024.
The project will create 1000 jobs during construction and 350 operational roles.
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‘Abundant gas supply’
“The proposed methanol plant will be strategically located in Darwin to take advantage of its abundant gas supply and its proximity to the South East Asia market,” Coogee chief executive and managing director Dr Grant Lukey said in a public statement. “The proposed plant will use innovative, low-emission technology.”