Axiall Corporation plans building ethylene cracker inUS state Louisiana

Axiall to build ethylene cracker in Louisiana, US

6:30 AM, 20th December 2013
Axiall Corporation Business news

ATLANTA, US: Axiall Corporation plans to build ethylene cracker in conjunction with a related derivatives plant in the US state of Louisiana. Axiall proposes to construct the facility with a soon-to-be-named partner, and Axiall’s contemplated capital investment in the project would be approximately $1 billion.

Axiall expects to finance its portion of the investment with a combination of new debt and cash on hand. The combination of Axiall’s approximately $1 billion investment with approximately $2 billion from a partner could result in a total capital investment approaching $3 billion. If Axiall chooses to move forward with construction of an ethylene cracker and gains board approval, commercial operation could begin in 2018.

“As part of Axiall’s long-term growth strategy, we believe it is important we have further integration with cost-based economics on 50 per cent of our current annual ethylene requirements. While we are still considering a number of options and potential partners for the project, and we have not yet received final investment approval from our Board of Directors, we have narrowed our siting choices to Louisiana. We are excited about the prospect of expanding our footprint in the state of Louisiana and continuing to invest in its talented workforce,” said Paul Carrico, President and CEO, Axiall.

 

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