Gov. John Bel Edwards and Methanex executive Mark Allard announced the company will make a $1.3 billion to $1.4 billion capital investment to construct a third methanol plant in Geismar. The project will join two existing methanol plants in Geismar and represent a cumulative capital investment of more than $2.5 billion for methanol facilities in Ascension Parish. Through the project, Methanex will create 62 new direct jobs, with an average annual salary of $80,000, plus benefits. Louisiana Economic Development estimates the project will result in another 301 new indirect jobs, for a total of 363 new jobs in Ascension Parish and the Capital Region.