Formosa considering $9.4B complex in St. James Parish
BATON ROUGE - Formosa Petrochemical is studying the feasibility of building a $9.4 billion industrial complex in St. James Parish.
Gov. Bobby Jindal's office made the announcement Thursday, saying the proposed plants would produce ethylene and other chemical products and create 1,200 new jobs if built.
A final decision on whether to move ahead with the project on the west bank of the Mississippi River isn't expected until mid-2016. Plant hiring would begin two years later.
Taiwan-based Formosa has three plastics manufacturing facilities in Louisiana. Jindal's office says the new addition would be one of the largest, single-site ethylene production complexes worldwide.
The governor's office credits Jindal's January 2014 trip to Taiwan for helping to attract the potential project. Louisiana offered Formosa a $12 million grant, plus tax breaks and worker training assistance.