Decision nearing on Iberville chemical plant
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News of a $400 million investment by a French chemical company near Plaquemine is expected by the end of June, a state official said.
Economic development Secretary Stephen Moret said he expects a decision from SNF Floerger SAS, a privately held French firm, in three to four weeks. An SNF subsidiary has an option to buy 800 acres along the Mississippi River near the Shintech plastics plant.
SNF, which makes insoluble chemical compounds that remove impurities from water, is approaching the Gulf Coast market to make and sell similar compounds for enhanced oil recovery operations, where they would be pumped into older, inactive oil fields to extract oil that previously was hard to mine.
The project would generate about 600 new chemical industry jobs by the end of a five-year development cycle. Hiring could begin by 2010, a consultant for SNF has said.
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