Transition Industries LLC and IFC announce agreement to develop net-zero world-scale methanol project in Sinaloa, Mexico
Transition Industries LLC announced at COP 28 that it has signed a Joint Project Development Agreement (JPDA) with the International Finance Corporation (IFC), a member of the World Bank Group, to jointly develop its Pacifico Mexinol project, a 6,145 MT per day methanol production facility near Topolobampo, Sinaloa, Mexico.
- Transition Industries LLC announced at COP 28 that it has signed a Joint Project Development Agreement (JPDA) with the International Finance Corporation (IFC), a member of the World Bank Group, to jointly develop its Pacifico Mexinol project, a 6,145 MT per day methanol production facility near Topolobampo, Sinaloa, Mexico.
- Under the terms of the JPDA, the IFC will share a portion of the project development costs, provide substantial expertise to ensure compliance with the IFC Performance Environmental & Social Standards, and leverage its expertise to support the project financing.
- Rommel Gallo, the CEO of Transition Industries, commented: “We are pleased to announce our JPDA with the IFC and proud to partner on this groundbreaking project.
- The project is expected to generate on average 3,500 jobs during construction and up to 450 jobs during operations.