ST. JAMES PARISH, LA (WAFB) - On Friday, Jan. 4, Governor John Bel Edwards and South Louisiana Methanol (SLM) CEO Paul Moore announced a $2.2 billion investment in a new methanol complex the company plans to make in St. James Parish.
Work on the project began in 2018 at the 1,500 acre site along the Mississippi River, about eight miles south of the Sunshine Bridge. Construction should begin later this year once the company finalizes negotiations with new joint venture partner, a Houston-based subsidiary of Saudi Arabia-based, SABIC.
SLM and SABIC hope to make one of the globe’s largest methanol production sites. The project was originally announced in 2013 with Texas-based ZEEP Inc. and New Zealand-based Todd Corporation. South Louisiana Methanol is now majority-owned by Todd Corporation.
The project is anticipated to create 75 new direct jobs with an average salary of $71,400 plus benefits. The project will also bring in about 350 new permanent indirect jobs, as well as about 800 jobs at peak construction time.
“Louisiana is renowned for our productive manufacturing sector and an exceptional business climate for the world’s leading industries. South Louisiana Methanol and SABIC recognize that our industrial corridor along the Mississippi River delivers the highest performance port, pipeline, and rail logistics available in the world. We’re especially pleases that these global investors have confidence in Louisiana’s manufacturing workforce, the most productive in the nation, and that they will be contributing significantly to our economy in the coming years,” said Edwards.
SLM’s applications range from plastics to polyester fibers and fabrics, fuels, pharmaceuticals and adhesives.
“SLM is pleased to announce the project agreement with SABIC. SABIC brings years of proven methanol operating experience and a global distribution network, and we are pleased to be based in St. James Parish, with great access to the Mississippi River and gas feedstock, and a business friendly community and state,” said Moore.
Click here for more details on the project.