CCI To Establish A Methanol Manufacturing Plant in New Orleans
Published By : 13 Oct 2014 | Published By : QYRESEARCH
Castleton Commodities International, the global commodities merchant will be investing in capital worth US$1.2 billion in establishing a methanol manufacturing plant in the South of New Orleans, along the Mississippi river. The plan is to develop this methanol manufacturing plant in the same 387 acre AMAX Nickel site on the eastern side of the river Mississippi in the north of Plaquemines Parish. As per estimates, the methanol production capacity of the Castleton Commodities International’s Louisiana plant will be about 5000 metric tons, wherein the primary production feedstock will be natural gas.
CCI plans on commencing the construction of this plant by the year 2016. This construction plan will be involving a two-year-build-out that will entail the completion of this manufacturing plant in the area of Plaquemine Parish. Furthermore, it is also expected that this will create about 50 jobs in the area. During the course of construction of the methanol manufacturing plant, approximately 1000 construction related employment opportunities will be created in this region.
According to senior officials at CCI, the presence of strong energy infrastructure, brilliant workforce, and efficient business climate, setting up this plant in Louisiana will reap several benefits in the long run. Interestingly, this location, along the Mississippi river is ideal for multiple projects.
The proximity of this area to natural gas pipelines, prime waterway, rail and truck, and deepwater ports makes this a very strategic area for developing such business projects.
The State of Louisiana has offered CCI a competitive incentive package that involves LED FastStart’s workforce solutions. It is also expected that CCI will make use of the state’s various Industrial Tax Exemption programs and Quality Jobs.