26 March 2007 23:44 [Source: ICIS news]
SAN ANTONIO, Texas (ICIS news)--Louisiana has tweaked its fast track programme to speed up the issuance of permits in order to ensure the swift rebuilding of manufacturing sites which were devasted by Hurricanes Katrina and Rita, said Dane Revette, Director of the state’s Energy Development on Monday.‘Fast track permitting’ targets companies seeking to do business that require air and water permits, such as petrochemical businesses and business in the renewable fuels area like ethanol or biodiesel plants, Revette said on the sidelines of the National Petrochemical & Refiners Association (NPRA)
This new approach can shorten the time for permit processing by as much as 70% in some situations, resulting in substantial cost savings for new start-ups and expansions, he said.
Revette said the new system had already attracted a new $5bn syn-fuel project near Giesmar, Louisiana, with a $1bn vinyl chloride monomer and poly vinyl chloride plant also moving ahead based on the new permit options.
The bond financing scheme allows companies to accelerate depreciation costs.
“We want to make it more profitable to be in
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