A Lithuania-based company announced plans today to invest $265 million to convert an idle biofuels refinery in central Louisiana into an ammonia manufacturing plant.
Investimus Foris is buying assets of the former Vanguard Synfuels refinery in Pollock, Grant Parish, as the site for its new facility, according to a news release from Gov. Bobby Jindal’s office. The company also is negotiating with European and Asian companies to purchase and move ammonia plant components that will be coupled with existing plant infrastructure in Pollock to create the new ammonia facility. The Louisiana refinery had been operated as an ammonia plant before its acquisition by Vanguard Synfuels.
Louisiana Economic Development estimates the project will create 85 new direct jobs at an average annual salary of $55,000, plus benefits, as well as an additional 584 new indirect jobs for Grant Parish and the central Louisiana region. Construction of the plant is expected to require 560 workers as well, the company estimates.
LED says it has been discussing the project with Investimus Foris since April of last year. To secure the investment, the state is providing the company with an incentive package that includes workforce development assistance via the LED FastStart program. The company will also benefit from the state’s Quality Jobs and Industrial Tax Exemption programs. The former provides for a cash rebate of up to 6% of the company’s payroll on new jobs created for 10 years, and the latter offers a full abatement of local property taxes for a decade on new capital investment.
The plant will produce 500,000 tons of ammonia per year for use in agricultural applications. Most of it will be shipped by pipeline to destinations in the northern U.S. The company also is exploring foreign export markets. Construction is expected to start in the second quarter of next year and is scheduled to be completed within 26 months.
