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Texas City set to sign off on lease for $4.5 billion methanol plant - The Galveston County Daily News : Local News

September 17, 2014

Texas City set to sign off on lease for $4.5 billion methanol plant

Posted: Tuesday, August 5, 2014 11:00 pm

TEXAS CITY — City commissioners are expected to sign off on the proposed lease of Shoal Point that eventually could lead the way to the construction of a multibillion methanol plant.

A partnership of a Chinese chemical firm and Chinese financial firm are considering the 900-acre peninsula near the Texas City Dike for the plant. Galveston County Economic Alliance officials formally announced two weeks ago what The Daily News reported last month that Texas City was one of two cities in the running for the facility. The other site in the running is near Donaldsonville, La., officials said.

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