Connecticut-based Castleton Commodities International (CCI) is to invest $1.2 billion in a new methanol-manufacturing plant alongside the Mississippi River in Plaquemines Parish, Louisiana. This will produce an estimated 5,000 tonnes of methanol per day, using natural gas as its main ‘feedstock’.
Construction will begin in 2016 and should take two years. The plant will create 50 jobs, preceded by about 1,000 construction jobs.
Louisiana Governor Bobby Jindal said that the state incentives for this project include tax breaks through the Quality Jobs and Industrial Tax Exemption programmes, plus the free training of workers through the Louisiana Economic Development Agency’s Fast Start programme.
“We’re proud that CCI is now joining the impressive list of important global investors choosing to invest their capital and create the jobs of the future right here in Louisiana.”
CCI CEO William C Reed II said: “Louisiana has a great workforce, a strong business climate and a robust energy infrastructure. The location on the Mississippi near New Orleans makes the site ideal for use in multiple projects.
"The proximity to a major waterway, deep-water ports, road and rail transport systems and natural-gas pipelines was a major factor in the selection of Plaquemines Parish for the project.”