EuroChem announces fertiliser project in Louisiana
10 July 2013, Moscow / Baton Rouge — EuroChem (the Company), a top ten global fertilizer company, today announces its intention to build an ammonia and urea production plant in Louisiana to manufacture and distribute fertilizer products in the U.S. and other markets. Such a project can represent investments of approximately US$ 1.5 billion and traditionally requires four years of construction work. EuroChem expects to finalize its decision on the parameters and location of the facility within the next year.
Dmitry Strezhnev, CEO of Eurochem, commented: “The Americas accounted for approximately a quarter of our sales in 2012 and we expect its contribution to continue to grow. We therefore see it as a next logical step to establish our production closer to our customers. Louisiana brings together all the right ingredients, from its favorable political and economic environment, to the availability of energy, labor, infrastructure, and logistics, to fulfill our strategic vision in one of the world’s largest agricultural markets.”
Governor Bobby Jindal said, “With continued momentum from our vast energy resources, our top-notch infrastructure and world-class workforce, Louisiana is leading the nation and the world in attracting major industrial expansions. EuroChem embodies why we’re performing at such a high level. As one of the world’s largest fertilizer companies, EuroChem recognized that our mix of peerless resources and a rapidly improving business climate make Louisiana the ideal place for business investment in the world. We’re delighted that our existing employers are expanding and becoming more efficient and productive by the day, and that world-scale investors are coming to Louisiana from as far away as Australia, Japan, South Africa and, now, Russia. This project will continue our goal of providing outstanding careers for our current workforce and our children and grandchildren for years to come.”
EuroChem and Louisiana Economic Development (LED) officials have been working together on the planned construction of EuroChem’s plant in Louisiana since 2012. To secure the project, the state has offered the Company a competitive incentives package, including a number of tax exemptions. According to LED estimates, once completed the plant is expected to generate approximately 200 new jobs and over 1,300 jobs in related sectors. In addition, during the four-year construction phase the Company is expected to employ approximately 2,000 new construction workers.