Fri July 18, 2014
China Company Investing Almost $2 Billion In Chemical Plant
A Chinese company has announced plans to build a methanol manufacturing plant in St. James Parish. It’s the first major investment project by a Chinese company in Louisiana.
The Yuhuang chemical company will be investing almost $2 billion in the project. Up to 400 permanent jobs are expected.
Company officials and Governor Bobby Jindal say the first phase of construction is planned to start in 2016. Operations could start two years later.
The facility is planned on the Mississippi River. The company has an option to buy more than 1,100 acres next to the Plains All-American Pipeline terminal for the first of three phases it’s planning for the project.
The economic development group Greater New Orleans, Incorporated says the project marks the start of business deals with Asia.
It says the average salary at the methanol plant will be about $85,000 a year.
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