Westlake Chemical (NYSE:WLK) said Tuesday that it’s proceeding with the previously announced construction of a new plant to be located at its vinyls manufacturing complex in Geismar, La.
The Houston-based polymer and fabricated product maker said the project, expected to cost between $250 million and $300 million, will be partially funded by the Gulf Opportunity Zone bonds issued by Westlake.
The facility, which, using state of the art membrane technology, is estimated to produce 250,000 electrochemical units (ECUs) annually, bringing the company’s total estimated ECU capacity to 525,000, is targeted for start-up in the second half of 2013.
The new plant is consistent with the company’s vertical integration strategy for its vinyls business, allowing it to achieve chlorine integration, Westlake officials said.
Approximately 100 permanent positions and 400 to 500 construction jobs are expected to be created by the project.