The West Virginia Economic Development Authority has approved a $10 million loan to help develop a methanol production facility west of Charleston.
The Charleston Gazette-Mail reports 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 says 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 says 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.