Joyce expects Methanex expansion

Email
Print

Joyce expects Methanex expansion

3News NZ

A strong methanol price may prompt the opening of a third production line by Methanex Corp in Taranaki.

Economic Development Minister Steven Joyce, appearing on The Nation this morning, held out the prospect as an example of a manufacturer expanding production.

"Methanol's been strong so we've seen 500 jobs invested in Taranaki setting up the second Methanex methanol train," Mr Joyce said.

"That's been very busy for the first half of the year and I understand they are looking at opening their third."

The company, which produces methanol from gas, in July restarted a second Motunui facility, which took capacity at that site to approximately 1.5 million tonnes a year.

It said then that the potential to restart the nearby Waitara Valley plant could add to annual production capacity in New Zealand by the end of 2013.

NZN

Post a Comment

Before commenting, please take the time to read our moderation guide


(Won't be published)



Comments

17/09/2012 1:03:20 a.m.

Isaac wrote:

It just doesn't make sense. Methanex is a large multi national based in th USA. Their operation is very rich in assets but are failing to cover operating costs and don't appear to have good stable lines of finance. My guess is they want us to build the facilities for them and thus creating an illusion of job creation and in turn pay for it with increased inflation. Guess its up to the people, jobs or inflation.

16/09/2012 2:10:08 p.m.

Judy wrote:

Joyce is a motormouth, never drawing breath... He rearly addresses the camera with his eyes. He is another money trader like his master Key & equally as dumb dangerous & devious. He certainly does not have the people of NZ at heart. His pockets are more important. The total cost of the growing unemployment to families & their communities is unpresidented. The cost to the Government must be also with the dole being paid out & all that goes with it plus the lost taxs. This Government has NO idea. Lets hope they are out soon.

16/09/2012 9:12:29 a.m.

PX wrote:

So easy to sit on the side, with limited knowledge, and throw stones... NZ is successfully moving up economically - we are now in the top 10% for overall "standard of living", globally. All jobs come and go around supply and demand - don't get stuck in the mud... a few years ago who would have thought that millions would be earning their living from the www and millions around the globe would have list their railway jobs... New networks vs old networks... And never forget that all government jobs can be traced back to being tottaly dependant on taxing the private sector's productivity. The private investors in Methanex won't be putting money into a third line unless there's plenty of additional gas and heaps of sound economic logic. This isn't about creating more government jobs to suck taxpayers for more - but instead sound risktaking in an effort to increase revenues, productive real jobs and reasonable profits for future investments and job creation.

16/09/2012 6:53:44 a.m.

brent wrote:

what a thick head gas fields near empty these are the chumps running nz.

15/09/2012 7:43:34 p.m.

alison wrote:

Hmmm. 40 thousand jobs in manufacturing lost since national took power in 2008. This must be worth celebrating for them. Oh thats right, Kawerau has just said its closing down its pulp operation. Oh well doesnt affect your pay packet aye joyce