15 July 2013 19:06 [Source: ICIS news]
HOUSTON (ICIS)--US-based Honeywell plans to spend $208m (€160m) to expand four plants in Baton Rouge, Geismar and Shreveport, Louisiana, the state's governor said on Monday.
Out of the $208m, $169m will be invested for engineering and new capacity for the additional products, said Governor Bobby Jindal. Honeywell will invest another $39m to support its ongoing operations at the plants.
The projects include fluorine products in Baton Rouge and Geismar; a catalyst plant in Shreveport; and an adsorbent plant in Baton Rouge, Jindal said. Each project will be under way by the fourth quarter.
In addition, Honeywell is considering more projects in Louisiana, Jindal said. If the company pursues these projects, then it will invest a total of $1.2bn in Louisiana over 10 years.
The state secured the project by offering Honeywell incentives, including up to $15.5m under Louisiana's Modernization Tax Credit, Jindal said.
($1 = €0.77)
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.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections