CCI to build world-scale Plaquemines Parish Methanol
CCI announcement comes after a series of similar decisions from companies such as Benteler, CF Industries, Cheniere Energy, Cornerstone Chemical, Dow Chemicals, Dyno Nobel, Nucor or Sasol which decided to go to Louisiana for grassroot projects or existing facilities expansion investment.
Through its Louisiana Economic Development (LED) FastStart program, Louisiana proposes multiple initiatives to companies looking for the best places around the US Gulf of Mexico to take advantage from the competitive shale gas resources in expanding their petrochemical activities.
With its LED FastStart program, the State of Louisiana offers tax exemptions and jobs qualification processes to the investors.
Formerly branded Louis Dreyfus Highbridge Energy, Castleton is operating as a global commodities trader from its headquarter in Stamford, Connecticut, USA.
Acting on financial and physical commodities, Castleton is managing a diversified platform of storage and transportation facilities.
Easy to store, transport and trade, the methanol offers to Castleton the opportunity to build a competitive advantage on the global petrochemical commodities market in benefiting from the lowest Louisiana local costs for shale gas supply and labor.
CCI to invest $1.2 billion in Braithwaite Methanol
With the support of the LED, Castleton took approximately one year to evaluate sites along the Mississippi River at Plaquemines Parish.
In addition to the existing power supply this Plaquemines Parish site benefits from the required infrastructures for supply with the neighboring gas pipelines system and for shipment with the existing deepwater harbor and network of water ways to facilitate access.
After the selection of this strategic location, Castleton is planning to start the design of its Louisiana Methanol project in expecting to go for the construction already in 2016 and first shipment out of CCI Plaquemines Parish site by 2019.