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Madoqua Renewables to build methanol plant in Ternopil for as much as €900 million

Madoqua Renewables plant in Portugal. (Company photo)

Madoqua Renewables Holding plans to invest as much as €900 million to build a plant in the western Ukrainian city of Ternopil to produce methanol from sugar production waste and wastewater.

The Dutch-Portuguese company plans to invest up to €40 million on project development, followed by capital investments of up to €400 million and an overall investment of between €800 million and €900 million, according to an announcement on LinkedIn and a press release on the site of government investment promotion agency UkraineInvest.

The project will employ 500 people directly and 2,500 indirectly, according to the announcement. No further details, such as the timing of the investment, were disclosed.

Madoqua Renewables carries out "engineering projects focused on production of green hydrogen and H molecule value chain related energy carrier products," according to its website.

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