Posted: Dec 5, 2012 7:07 AM by AP
BATON ROUGE, La. (AP) - Gov. Bobby Jindal's administration has pledged a more than $135 million incentive package to South African energy company Sasol Ltd. to build a multibillion-dollar complex in southwest Louisiana. The site will turn natural gas into chemicals, diesel and other fuels.
Incentives include tax breaks, a $20 million worker training facility and a $115 million payment to the company for land and infrastructure that will be left to a future governor's administration and lawmakers to fund.
Sasol said it will spend between $16 billion and $21 billion on the construction of a chemical plant and a gas-to-liquids plant that will turn natural gas into diesel, at a site near Lake Charles.
The project is described as the largest manufacturing investment in Louisiana's history, creating an estimated 1,250 new permanent jobs.