Entergy Louisiana has signed a 10-year agreement with Yuhuang Chemical Inc. (YCI) to supply power to YCI’s new methanol facility in St. James Parish.
YCI, a U.S. subsidiary of Shandong Yuhuang Chemical Co. Ltd., is developing its first major U.S. project in St. James Parish. The company purchased the old St. James High School property and 1,250 acres nearby to build a three-phase, $1.85 billion methanol complex. The complex site is located along River Road, between the Mississippi River and LA-3127 in St. James Parish.
“We look forward to our partnership with Entergy Louisiana. It has a strong track record of providing reliable service to industrial facilities at a favorable rate which will give our facility a strong competitive edge. They are a staunch supporter of economic development in south Louisiana and understand the benefits our project brings to the region,” said Charlie Yao, YCI’s chief executive officer. “Their unwavering commitment to our project, responsiveness to our needs, and focus on long-term partnership has been extremely helpful.”
In phase one, YCI is investing $1.5 billion in the construction of its first methanol plant, which is scheduled to be completed by the first quarter of 2020. The St. James site fit YCI’s need for access to a talented workforce, deep water dock, rail transportation, industrial gases, natural gas pipelines, process water, and high voltage electric service. The plant will create 100 permanent positions while construction of the facilities will result in 1,000 construction jobs.
“We are proud to support St. James Parish’s economic growth by partnering with YCI to provide the best solution to power their new facility in Louisiana,” said Phillip May, president and CEO of Entergy Louisiana. “Entergy Louisiana proactively seeks to drive economic development, and the way we do that is by helping our state, regional and local economic development partners attract new businesses through our investments in workforce development, shovel-ready certified sites, research and technology and education. We’re glad YCI chose Entergy Louisiana and St. James Parish. Together, we can continue to help our communities thrive.”
Entergy Corporation was recognized for the 10th consecutive year as one of the top 10 utilities in the nation by Site Selection magazine for its efforts to support economic development. The recognition was due to Entergy’s role in supporting projects that resulted in nearly $27.5 billion of capital investment and the creation of more than 5,758 new jobs across its four-state service territory.
“It’s a win for Entergy, Yuhuang Chemical, St. James Parish and the state of Louisiana,” said Ed Jimenez, director of business and economic development for Entergy Louisiana. “We look forward to a continued, successful partnership with Yuhuang Chemical as we continue to support economic growth throughout our state.”