On Friday, Governor Jindal and Chairman Jinshu Wang of Shandong Yuhuang Chemical Co. Ltd. (based in China) highlighted the start of construction on Yuhuang Chemical Inc.’s $1.85 billion methanol complex in Vacherie. The company will develop the manufacturing complex along the Mississippi River in St. James Parish; it represents the first major foreign direct investment in Louisiana by a company from China. The initial economic impact of the complex was announced back in July 2014. Yuhuang Chemical expects to create 400 new direct jobs with an average annual salary of $85,000, plus benefits. In addition, Louisiana Economic Development estimates the project will result in 2,365 new indirect jobs, for a total of more than 2,700 new jobs. Estimates also anticipate 2,100 construction jobs at peak building activity. The first phase of the methanol project is projected to begin operations by 2018.
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