EuroChem announces fertilizer project in Louisiana
Mary Page Bailey
EuroChem (Moscow, Russia; www.eurochem.ru), a global fertilizer company, announced its intention to build an ammonia and urea production plant in Louisiana to manufacture and distribute fertilizer products in the U.S. and other markets. The project requires an estimated investment of approximately $1.5 billion and four years of construction work. EuroChem expects to finalize its decision on the parameters and location of the facility within the next year.
EuroChem and Louisiana Economic Development (LED) officials have been working together on the plant's planned construction since 2012. To secure the project, the state has offered EuroChem a competitive incentives package, including a number of tax exemptions. According to LED estimates, once completed, the plant is expected to generate approximately 200 new jobs and over 1,300 jobs in related sectors. In addition, during the four-year construction phase, EuroChem is expected to employ approximately 2,000 new construction workers.