Gov. Jindal joins Axiall, Lotte Chemical executives to announce $3 billion project
WESTLAKE, LA (KPLC) - Governor Bobby Jindal was in Westlake on Thursday to announce the final investment decision between Axiall and South Korean-based Lotte Chemical.
Jindal joined company executives, along with city and parish leaders, as Axiall and Lotte announced they will build an ethane-based ethylene plant in Westlake.
The $1.9 billion project will be built next to Axiall's current manufacturing complex by LACC LLC, a joint-venture company formed by Axiall and Lotte.
"The new plant is going to benefit from a lot of Axiall's existing infrastructure such as access to power, steam, being at a deep water port, as well as other utilities. This site also minimizes the need for additional pipeline construction in the area," said Jim Rock, Axiall's Vice President of Operations.
Lotte will also build a $1.1 billion monoethylene glycol manufacturing plant on the same site.
The project is expected to create more than 2,000 construction jobs and more than 200 permanent jobs.
"When you've got a $3 billion investment, 2,000 jobs, it's going to be great for the state. That means 2,000 families that are buying their groceries here; they're living their lives here," Jindal said. "That's going to be great for the economy whether you work in the chemical industry or not, every one of us benefits when you have 2,000 families helping to grow the economy, buying homes, buying groceries and raising their families here."
George Swift, president of the Southwest Louisiana Economic Development Alliance said this new project increases the area's total economic investment project worth to $97 billion.
"This is phenomenal. We're competing now on the world stage and so we're very appreciative of this investment here in our region," said Swift.
Construction will be begin sometime next year. The facility is expected to be complete by 2019.
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