US Ashland to invest $15m to cut emissions at Kentucky facility
30 January 2013 16:59 [Source: ICIS news]
HOUSTON (ICIS)--?xml:namespace>Ashland plans to invest about $15m (€11m) to build three new heat recovery generators that will cut emissions at the company's production facility in Calvert City, Kentucky, the US-based specialty chemicals firm said on Wednesday.
Ashland said that construction of the high-efficiency generators is expected to begin in March.
When completed in 2014, the generators would reduce emissions, improve the plant's operating efficiency, and help to retain 500 full-time positions at Calvert City, the company said. Ashland took over the site in 2011 when it acquired ISP.
"Calvert City will play an important role in Ashland's growth, particularly as we expand our presence in personal care products,” said CEO James O’Brien.
The new heat recovery steam generators will replace an aging and inefficient coal-fired boiler, as well as two existing gas-fired boilers that are nearing the end of their usefulness.
The new generators could eventually be combined with turbine/generator sets that together would serve as a co-generation system for electricity. A co-generation system would support plant operations during any outages in the local power grid, such as when ice storms hit Kentucky in 2009, Ashland said.
The Kentucky state government, through its Kentucky Economic Development Finance Authority (KEDFA), approved the project for $5.5m in tax incentives. Without the tax incentives, it is unlikely that Ashland would have proceeded with the project as currently planned, it said.By: Stefan Baumgarten+1 713 525 2653
($1 = €0.74)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial
to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free
trial to ICIS Chemical Business.