SHREVEPORT, LA – Bia Energy Operating Company announced last week that it is evaluating a $550 million methanol production plant that would be located at the Port of Caddo-Bossier in Shreveport.
If the plant becomes operational, the company would create 75 direct new jobs, with an average annual salary of $80,000, plus benefits.
Nearly 350 construction jobs would be created at peak construction for the project.
Plans for the proposed plant include a production capability of 530,000 metric tons of methanol annually, using natural gas as a feedstock. The plant would feature carbon capture capabilities, reducing carbon dioxide, or CO2, emissions by more than 90 percent compared to other methanol plants.
If it moves forward, BEOC plans to locate its facility on a 74-acre site located at the Port of Caddo-Bossier. The company is expected to make a final decision in the 1st quarter of 2022, with construction expected to last approximately two years, and commercial operations to begin soon after.
LED began formal project discussions with BEOC in 2018. To secure the methanol plant at the Port of Caddo-Bossier, the State of Louisiana offered a competitive incentive package – subject to a final investment decision – that includes the comprehensive solutions of LED FastStart, the nation’s No. 1 state workforce development program for the past 12 years. The package also includes a performance-based award of up to $2 million for project development and infrastructure. The company also is expected to utilize the state’s Quality Jobs program.