GEISMAR - The governor's office announced Friday that chemical company Methanex will be investing $1.3 billion to $1.4 billion into constructing a third methanol plant in Ascension Parish.

The project will join two existing methanol plants in Geismar and represent a cumulative capital investment of more than $2.5 billion for methanol facilities in Ascension Parish, south of Baton Rouge.

Through the project, Methanex will create 62 new direct jobs, with an average annual salary of $80,000, plus benefits. Louisiana Economic Development estimates the project will result in another 301 new indirect jobs, for a total of 363 new jobs in Ascension Parish and the Capital Region.

Methanex will build the third Geismar plant on a 156-acre LED Certified Site, a location that has undergone extensive due-diligence preparation to be development-ready.

Methanex is the world’s largest supplier of methanol – a clear, biodegradable ingredient found in everything from windshield washer fluid to recyclable plastic bottles, plywood floors, paint silicone sealants and synthetic fibers. Also a clean-burning fuel, methanol is increasingly used in the energy sector for blending in gasoline and other fuels.