Advanced Refining Technology, a joint venture of Chevron Products Company and W.R. Grace & Co., will spend $135 to build a residue hydroprocessing catalysts production plant at the existing Grace plant near Lake Charles.
The investment will also expand alumina capacity at the plant, say the companies, which announced the plans this morning. Louisiana Economic Development estimates the project will result in more than 110 new direct and indirect jobs, as well as the retention of an existing 295 jobs at the plant. Another 190 temporary construction jobs are expected to be created during peak building activity at the plant.
Construction at the 120-acre site, which is located just across the Calcasieu River from Lake Charles, is expected to start later this year, with completion expected in early 2018.
LED says it began working with Chevron and Grace to secure the expansion project in March of last year. The state is providing the project an incentive package that includes a $2.4 million modernization tax credit to be claimed over five years. ATR will also receive workforce development assistance via the LED FastStart program, and the company is expected to benefit from the state’s Quality Jobs and Industrial Tax Exemption programs. The former program provides a cash rebate of up to 6% of a company’s payroll for up to a decade, while the later offers a full abatement of local property taxes on new capital investments for up to 10 years as well.
“This will be a world-class, world-scale catalysts plant that is responding to strong global demand for ART’s industry-leading products for residue upgrading,” Grace Chairman and CEO Fred Festa says in a news release.
ATR produces alumina, sodium silicate, fluid-cracking catalysts, hydroprocessing catalysts and zeolites at the plant. Grace has invested $100 million in facility upgrades at the Lake Charles plant over the past six years.
