BATON ROUGE, La. — Today, Gov. John Bel Edwards highlighted the third methanol plant developed by Methanex in Geismar, Louisiana, where the $1.3 billion to $1.4 billion project will generate over 1,000 construction jobs in the next three years. LED Secretary Don Pierson joined Methanex President and CEO John Floren and other guests at a celebratory luncheon Friday to recognize the company’s growth in Ascension Parish. At Parc 73 in Prairieville, state, parish and local officials commemorated the latest project that began construction in August and will bring total Methanex investment in Ascension Parish to more than $2.5 billion.
Upon beginning operations in the second half of 2022, the G3 methanol plant in Geismar will create 62 new direct jobs with an average annual salary of $80,000, plus benefits. In addition, Louisiana Economic Development estimates the project will result in 301 new indirect jobs, for a total of 363 new permanent jobs in the Capital Region of Louisiana.
“In Louisiana, Methanex has discovered an ideal fit,” Gov. Edwards said. “Our extensive midstream infrastructure delivers the most competitive supply of natural gas and other industrial gases. We offer a seasoned workforce that ranks No. 1 for manufacturing productivity in the U.S., and Louisiana’s port logistics are second to none. Since beginning methanol production here in 2015, Methanex continues to grow in Geismar and will support more than 1,700 direct and indirect jobs upon completion of this third plant. We congratulate the company on this major milestone.”
Methanex’s latest Louisiana project will leverage the most advanced production technology to generate up to 1.8 million metric tons of methanol per year. Combined, the three Methanex plants in Geismar will represent one of the world’s largest methanol complexes.
“Louisiana is a very attractive location for methanol production and the state’s investment attraction programs provide an excellent backdrop for this additional investment,” said Mark Allard, Methanex vice president for North America. “As the global leader in the methanol industry, we evaluate growth opportunities around the world, and we are pleased that Ascension Parish will become home to our largest production site globally, with production capability of approximately 4 million metric tons per year.”
With the third plant, the entire Geismar complex will grow to 230 total direct jobs, and the facilities will support another 1,500 indirect jobs in the Capital Region. Methanex is building its third Geismar plant on a 156-acre LED Certified Site, a location that has undergone extensive due-diligence studies to be development-ready.
“Ascension Parish is a premier destination for chemical manufacturing and we value the continued investments Methanex makes in their facility, their employees, and the many local community organizations and endeavors they support,” said Ascension Parish President Kenny Matassa. “We appreciate the confidence Methanex has in doing business in Ascension and the great job Ascension Economic Development Corp. does in connecting parish officials with business and industry to facilitate new and existing business expansions.”
Methanex is the world’s largest supplier of methanol – a clear, biodegradable ingredient found in everything from windshield washer fluid to recyclable plastic bottles, plywood floors, paint silicone sealants and synthetic fibers. Also a clean-burning fuel, methanol is increasingly used in the energy sector for blending in gasoline and other fuels.
“Methanex made a big bet on Ascension Parish and Louisiana’s Capital Region back in 2013, and we’ve been overjoyed with their continued growth and development,” said President and CEO Adam Knapp of the Baton Rouge Area Chamber. “G3 signifies Methanex’s incredible confidence in the global business environment, their products, and Louisiana’s business climate and workforce. We congratulate their success.”
Based in Vancouver, British Columbia, Methanex is a publicly traded company and the world’s largest supplier of methanol to major international markets. Methanex shares are listed on the Toronto Stock Exchange in Canada under the trading symbol MX; on the Nasdaq Global Market in the U.S. under the trading symbol MEOH. For more information, visit Methanex.com.