BATON ROUGE, La. (AP) — A Lithuania-based company plans to spend $265 million to reopen an idle biofuels refinery in Grant Parish as an ammonia manufacturing plant.
Investimus Foris announced the plans Wednesday with Gov. Bobby Jindal's office, saying the plant will have 85 jobs with an annual average salary of $55,000.
Jindal's office said the company is buying the assets of the former Vanguard Synfuels refinery in Pollock for its new ammonia facility. Before it was a biofuels refinery, the Pollock plant had been an ammonia manufacturing site.
When the conversion is complete, the plant is expected to produce 500,000 tons of ammonia annually for agricultural use. Jindal's office said construction will start in mid-2016 and is expected to take more than two years.
Louisiana is offering tax breaks and assistance with workforce development.