KPLC 7 News, Lake Charles, Louisiana$1.6 Billion Petroleum Coke Gasification Plant Gets Funding

$1.6 Billion Petroleum Coke Gasification Plant Gets Funding

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I'ts a done deal. Tuesday the Port of Lake Charles successfully issued and sold on behalf of Lake Charles Cogeneration, LLC $1.0 billion in GO Zone Bonds allowing for the development of a $1.6 billion petroleum coke gasification plant project on 70 acres of Port-owned property.

The gasification plant is expected to take four years to complete including a three year construction period. Construction is expected to start in early 2009.  It is anticipated there will be approximately 3,000 jobs during construction and upwards of 150 operational jobs once the plant is completed and operating along with a significant number of companies supplying maintenance services.

The plant will take petroleum coke, a by-product of the oil industry, and turn it into  substitute natural gas.