The Mishcon de Reya Singapore office acted for PT. Bakrie Capital Indonesia (Bakrie Capital) and PT. Ithaca Resources (Ithaca Resources) in a landmark coal-to-methanol project in Indonesia. Air Products, the world leader in coal gasification and a publicly listed company on the NYSE, will invest approximately US$2 billion to build and operate the air separation, gasification, syngas clean-up, utilities and methanol production assets in Kalimantan, Indonesia, to produce nearly two million tons per year (TPY) of methanol from nearly six million TPY of coal. Under a long-term build, own, operate and transfer (BOOT) agreement with Air Products, Bakrie Capital and Ithaca Resources will supply the coal feedstock and offtake the methanol production. It is the first such project in the region. The project is expected to come on-stream in 2024.
The Mishcon de Reya team was led by Partner Tahirah Ara supported by Consultant Justin Shmith, Special Counsel Lawrence Altman and Associate Luke Lim. Tahirah regularly advises Indonesian companies in the commodities sector.
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