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Planned West Virginia methanol plant gets EDA loan

The West Virginia Economic Development Authority approved a $10 million loan to help develop a methanol production facility in Institute. (MGN Online)

The West Virginia Economic Development Authority has approved a $10 million loan to help develop a methanol production facility in Institute in Kanawha County.

The Charleston Gazette-Mail reported the state development authority gave preliminary approval for the loan to US Methanol to purchase machinery and equipment for the planned Liberty One Methanol plant.

US Methanol Chief Commercial Officer Brad Gunn said the plant is expected to create about 350 temporary construction jobs and 50 permanent jobs. It is the first developed by the California-based startup.

Gunn said Liberty One will be reconstructed from a methanol plant they're in the process of disassembling in Brazil. He says it should be up and running by the year's end or early 2018 at the Dow Chemical facility in Institute.

Copyright 2017 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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