BATON ROUGE, La. -- Wanhua Chemical will develop a chemical manufacturing complex in Louisiana, with plans for the $1.12 billion project leading to a specific site selection later this year.
Wanhua will produce methylene diphenyl diisocyanate (MDI) in the project, which will combine a $954 million capital investment by Wanhua with a $166 million capital investment by project partners. The project will create 170 new direct jobs with an average annual salary of $70,440, plus benefits. Louisiana Economic Development estimates the project will result in another 945 new indirect jobs for a total of 1,115 new jobs in the state.
Wanhua's project will be the second-largest foreign direct investment in Louisiana by a company based in mainland China. Immediate access to an abundant supply of natural gas and other feedstocks, along with deepwater transportation via the Mississippi River, made Louisiana a natural fit for Wanhua's investment.
"Wanhua looks forward to being part of the Louisiana business community and the local community where we will build our operations," said Zengtai Liao, chairman and CEO, Wanhua Chemical. "Our desire to be a good industry neighbor will be evident in our focus on workforce development, local hiring, and our commitment to safe and environmentally responsible operations. Our employees will be fully engaged in the local community, and we will communicate regularly and openly."
Wanhua Chemical is a publicly traded corporation listed on the Shanghai Stock Exchange. Wanhua Chemical boosted its marketing presence in the U.S. by establishing a sales office in the greater Philadelphia area in 2006. The Louisiana project will bring production to the U.S. and enable the company to better serve customers in the Americas.
Wanhua Chemical, which has completed extensive site evaluations in Louisiana, will announce its final site choice in the coming months. The company considered many industrial site options, including locations in Texas.
For more information, visit www. WHChem.com/en or call (346) 754-5200.
