A Lithuania-based company plans to spend $265 million to reopen an idle biofuels refinery in Grant Parish as an ammonia manufacturing plant, according to an Associated Press report.
Investimus Foris announced the plans Wednesday with Governor Bobby Jindal’s office, saying the plant will have 85 jobs with an annual average salary of $55,000.
Jindal’s office said the company is buying the assets of the former Vanguard Synfuels refinery in Pollock for its new ammonia facility. Before it was a biofuels refinery, the Pollock plant had been an ammonia manufacturing site.
When the conversion is complete, the plant is expected to produce 500,000 tons of ammonia annually for agricultural use. Jindal’s office said construction will start in mid-2016 and is expected to take more than two years.
Louisiana is offering tax breaks and assistance with workforce development.
Congressman Ralph Abraham released the following statement expressing his approval on the plan:
“Today’s announcement from Investimus Foris is great news for Central Louisiana. An estimated 650 new jobs will come from this investment. These are the types of investments we need to continue bring jobs and economic development to Louisiana. I’m excited about the possibilities and opportunities this plant will bring.”
