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Brunei Methanol Company gained another significant milestone towards realising Brunei Darussalam's First Methanol Plant
2008-02-11

Sungai Liang – Today, Brunei Methanol Company sendirian berhad (or “BMC”) reached another important milestone in the Brunei Darussalam Methanol Project, with the foundation laying for the methanol plant complex. The foundation laying for the methanol plant project, which was held on the methanol plant site (located within the Sungai Liang Industrial Park at Sungai Liang) was officiated by His Royal Highness Pengiran Muda Haji Al-Muhtadee Billah ibni His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah the Crown Prince and Senior Minister at the Prime Minister’s Office. Also, present during the ceremony were government ministers; deputy ministers; foreign diplomats; as well as senior officials and members of the business community whom were involved with the methanol plant project.

During the Ceremony, Mr. Kinya Tsuji, the Chief Executive Officer of Brunei Methanol Company sendirian berhad, in his speech highlighted that the first milestone for the Project was achieved with the signing of the Joint Venture Agreement on 21st November 2005 between Mitsubishi Gas Chemical Company, PetroleumBRUNEI and Itochu Corporation. Following this, the Cooperation Agreement with the Brunei Economic Development Board was then signed, on 9th February 2006. This was followed suit with the signing of Engineering, Procurement and Construction Contract on 29th March 2007, for the development of the methanol plant here in Brunei Darussalam.All the essential agreements for the Project were duly signed, two weeks later, on 12th April 2007.

Amongst the agreements signed, were the Gas Sales Agreement with Brunei Shell Petroleum sendirian berhad, which enabled the purchase of 0.5 trillion cubic feet of natural gas, essential for the methanol plant to produce 2,500 tonnes per day or 850,000 tonnes of methanol per year for 20 years. Also signed on that day was the Land Lease Agreement with the Sungai Liang Authority, for a 16 hectare land site on which the methanol plant complex is currently being built.

As the construction of the methanol plant is financed under an international project financing structure, the first of its kind in Brunei Darussalam several project financing documents were signed on 5th May 2007.

Site preparation work on the site commenced with ground-breaking on 30th November of last year. Today, “with this morning’s foundation laying ceremony we have now reached yet another significant milestone in our project development, as we are advancing ever nearer towards the physical realization of Brunei Darussalam’s first methanol plant”, according to Mr. Kinya Tsuji.

Mr. Kinya Tsuji, in his speech also underscored the many significance of the methanol Project in the industrial history of the nation, as it represents the First natural gas chemical plant in the country; the First major industrial plant ever since the country’s independence; a major international project financing undertaking (the First in Brunei Darussalam); as well as the First major industrial collaboration between Japan and Brunei Darussalam.

Although BMC is a new company in Brunei Darussalam and soon to be a new player in the highly competitive global methanol supply market, Mr. Kinya Tsuji stated that the company look forward to the challenge in ensuring that methanol manufactured from Brunei Darussalam will have its place of prominence in the global methanol industry. Domestically, it strives to contribute towards the positive enhancement of the country’s social and economic landscape.

During the ceremony, His Royal Highness Pengiran Muda Haji Al-Muhtadee Billah ibni His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah the Crown Prince and Senior Minister at the Prime Minister’s Office also consented to view an exhibition on the development of the Brunei Darussalam’s methanol plant project.

Presentation of the exhibition, was given by Mohammad Reduan Haji Mohd. Yusof, the Deputy Chief Executive Officer of Brunei Methanol Company sendirian berhad.

Before ending the ceremony, a BMC staff group photo was taken together with His Royal Highness Pengiran Muda Haji Al-Muhtadee Billah ibni His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah the Crown Prince and Senior Minister at the Prime Minister’s Office.

The methanol plant project promises exciting opportunities in terms of accelerating the country’s efforts towards further industrialisation, additional foreign direct investment, new business streams for small and medium enterprises, as well as opening up more job and career opportunities for the people of Brunei Darussalam in-line with His Majesty’s wishes to have a knowledgeable society in any field that will benefit the nation.

With the foundation laying ceremony, the realization of the methanol plant complex draws ever closer and once complete, the Project is anticipated to be the flagship Project that will usher in a new industrial era for Brunei Darussalam.

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