Axiall and Lotte Chemical will move forward with a plan to build two new chemical plants in Lake Charles, Louisiana. The companies announced Thursday their final investment decision to proceed with a $1.9 ethane cracker and a $1.1 billion monoethylene glycol plant at Axiall’s existing Lake Charles site. Axiall first proposed the project in December 2013 and announced a joint venture with South Korea-based Lotte this past June.
Louisiana Economic Development estimates the project will create 1,892 new indirect jobs in southwestern Louisiana, on top of 215 direct jobs. Axiall estimates 2,000 construction jobs will be created during the peak building period.
Construction is set to begin in 2016, and the ethane cracker is expected to start up in early 2019.
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