Methanol link

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Mitsui Toatsu Chemicals and Mitsui and Co of Japan are to link with Eastman Kodak of the US to produce methanol in a joint venture with Venezuela's state-run petrochemical company, according to a Japanese press report.

The Nihon Keizai Shimbun said the partners envisage an annual production from 1995 of 750,000 tons from the project in Venezuela, expected to cost about dollars 330m ( pounds 174m). The two Mitsui group companies will have a total 50 per cent stake in the venture, while Petroquimica de Venevuela SA will hold 30 per cent and Eastman Kodak 20 per cent.

Worldwide demand is rising for methanol, which can reduce carbon dioxide emissions in gasoline.