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Orascom Construction Industries plans to contribute its Texas methanol plant to a new master limited partnership and offer units in the partnership in June. OCI NV, the Dutch-registered holding company for Orascom's fertiliser interests, would use the proceeds to pay down debt against the assets and fund improvements to them.
OCI (50% plus one share) and Janus Methanol (50% minus one share) bought the Beaumont, Texas plant in May 2011 from Eastman Chemical, and Orascom bought out Janus in the fourth quarter of that...