Posted: Oct 23, 2012 2:22 PM by Brian Waldrep
Source: Office of the Governor
GEISMAR - Governor Bobby Jindal and BASF executives joined other officials today in breaking ground on a new formic acid production plant at the company's 2,600-acre chemical complex in Geismar.
The project will be the only plant of its kind in North America, and will create 20 new direct jobs. Louisiana Economic Development estimates the expansion will result in 91 new indirect jobs.
The new employees will join 1,500 existing BASF direct and contract employees at the integrated chemical site in Geismar that is home to nearly two dozen different chemical production plants.
The payroll for BASF's current staff exceeds $163 million annually, and the new formic acid project will be the company's third major investment in Geismar since 2009, joining a methylamines plant completed in 2011 and a surfactants plant scheduled for completion in 2013.
Governor Jindal said, "BASF is one of the largest economic drivers in our state, and projects with the company have yielded over $300 million in new capital investment and over 400 new jobs for Louisianians since 2009. BASF could have invested in other states, but they are choosing to expand right here in Louisiana because we have a great business climate, a strong transportation infrastructure and the best workers in the world."
The formic acid production plant will begin operating by the third quarter of 2014, BASF officials said.
During the building phase, another 250 temporary construction jobs will be created.
Hiring of the permanent jobs will be timed with the opening of the formic acid plant in 2014.