Methanol Chemicals Company (Chemanol) announces signing of a non-binding Memorandum of Understanding with Global Company For Downstream Industries (GDI) to explore avenues of collaboration between the two companies. In accordance with the (MOU), Chemanol shall supply Methanol to the Global Company for Downstream Industries (GDI) where the two parties shall explore opportunities for future collaboration in the field of petrochemical products. The MOU expires on 31 December 2022.

The Proposed Transaction might involve related parties, and in such case the relevant details will be announced at a later stage. Shall be announced upon signing of the final agreement.