EuroChem announces fertilizer project
BATON ROUGE - Governor Bobby Jindal and EuroChem CEO Dmitry Strezhnev announced the company has committed to build an ammonia and urea production plant in Louisiana to manufacture and distribute fertilizer products in the U.S. and other markets recently.
The project will create 200 new direct jobs, resulting in an annual payroll of $11.6 million and an estimated 1,378 new indirect jobs according to LED estimates. The project investment is estimated to be $1.5 billion and traditionally requires four years of construction work, which can yield approximately 2,000 new construction jobs.
EuroChem is evaluating two final sites for its Louisiana plant. The company's purchase of one state-owned site, located in Iberville Parish, is subject to approval by the Natural Resources committees of the Louisiana Legislature. That property has been on the market for more than two years through the Office of State Lands, and EuroChem has deposited $12 million in an escrow account to buy the property, subject to the committee votes.
EuroChem also has secured an option to purchase a private-sector property in St. John the Baptist Parish.
Both Mississippi River sites are being evaluated for construction and logistics suitability, and the company will make a final site decision within the next year.
Formed as an agrochemical company in 2001, EuroChem built and acquired strategic mining and manufacturing assets to become one of the world's leading fertilizer manufacturers. With $5.4 billion in revenue in 2012, EuroChem is approaching a global top five position among fertilizer companies. Based in Moscow, EuroChem has developed its facilities to date in Western Europe and Russia and has focused on nitrogen and phosphate fertilizer products. The Louisiana facility will operate in the nitrogen category and serve as both a manufacturing and distribution center. EuroChem's Louisiana project represents its first manufacturing facility in the Americas, though the company is already established with farmers and industrial consumers in the market through trading offices it operates in Tampa, Florida, and São Paulo, Brazil.