Myriant to Build at Louisiana Port
- Dec 30, 2010
December 29, 2010
By Barbra Murray, Contributing Editor
Lake Providence, La., will soon become the home of Myriant Technologies L.L.C.’s new $80 million, 392,000-square-foot sustainable chemical manufacturing facility, now that the company is primed to commence construction of what will be the largest bio-based succinic acid refinery in the world.
Myriant’s new plant will be located at the Port of Lake Providence off the Mississippi River and approximately 100 miles outside of Jackson, Mississippi. The biotech developer considered other locations before selecting Lake Providence for its easily accessible rail, highway and barge transportation options. An attractive incentives package from the State of Louisiana enticed the company as well.
Louisiana Gov. Bobby Jindal said that this type of alternative energy manufacturing venue is one of the state’s top target growth industries that will help to diversify the economy, attract more business and create more jobs. He added that Louisiana’s low-cost manufacturing environment, well-established transportation and logistics networks and skilled workforce provide competitive advantages for companies such as Myriant.
Financing for the project comes from a bevy of sources. Myriant won a $50 million grant from the U.S. Department of Energy for the project and secured $10 million through the Lake Providence Port Commission and the Louisiana Department of Transportation. With development of the plant, 176 new direct and indirect jobs will emerge, as will approximately 250 temporary construction positions.
Demand for industrial space accommodations in Louisiana appears to be on track for an upswing. As per Industrial Info Resources, approximately $75 billion of industrial projects are scheduled to get off the ground in 2011 across Louisiana and the four remaining Gulf Coast states of Alabama, Florida, Mississippi and Texas.
Myriant’s planned facility at Louisiana’s Port of Lake Providence has an 18-month construction timeline and is on schedule to reach completion in 2012.