GEISMAR - Plant-based plastics maker Origin Materials announced plans to invest at least $750 million into a new manufacturing facility in Ascension Parish.

The company said it expects the development, slated for the 150-acre Parks Geismar site,  to result in more than 1,000 new direct and indirect jobs. The plant will use wood residue to make plant-based polyethylene terephthalate (PET) used in packaging, textiles, apparel and other applications.

Origin also plans for the facility to produce Hydrothermal carbon, which can be used in fuel pellets.

The company expects construction to begin in mid-2023 and for the plant to be operational by mid-2025.