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Business & Technology
Tue August 28, 2012
Rare metals plant may be built in Ascension Parish
Ascension Parish has been chosen as the site for an Avalon Rare Metals Inc. plant that will refine elements used in televisions and hybrid vehicles, if the company decides to build the $300 million facility.
The Louisiana Department of Economic Development announced Monday that Avalon chose the Geismar site for its possible refinery, with a final decision planned for 2013.
If built, LED says the plan would create 175 new jobs.
The plant would refine 10 rare earth elements used in items like flat-screen TVs and the high-strength magnets essential to hybrid and electric vehicles.
Avalon is doing a feasibility study on the plant, set to be complete in mid-2013.
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