{"id":1004172238,"date":"2017-04-10T07:45:30","date_gmt":"2017-04-10T15:45:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004172238"},"modified":"2025-02-18T04:56:47","modified_gmt":"2025-02-18T12:56:47","slug":"lotte-chemical-relocating-hq-to-louisiana","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lotte-chemical-relocating-hq-to-louisiana\/","title":{"rendered":"Lotte Chemical Relocating HQ to LA"},"content":{"rendered":"<p>By Evelina Croitoru<\/p>\n<div id=\"attachment_1004172259\" style=\"width: 423px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/13a2dbfcff191fd4c226786ce416fa7b.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004172259\" data-attachment-id=\"1004172259\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/lotte-chemical-relocating-hq-to-louisiana\/13a2dbfcff191fd4c226786ce416fa7b\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/13a2dbfcff191fd4c226786ce416fa7b.jpg\" data-orig-size=\"3147,2100\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Lindsey Janies&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1465902904&quot;,&quot;copyright&quot;:&quot;2015_Lindsey_Janies_Photography_LLC&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"13a2dbfcff191fd4c226786ce416fa7b\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/13a2dbfcff191fd4c226786ce416fa7b.jpg?w=1024\" class=\"wp-image-1004172259\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/13a2dbfcff191fd4c226786ce416fa7b.jpg\" alt=\"The groundbreaking ceremony of the MEG plant. \" width=\"413\" height=\"275\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/13a2dbfcff191fd4c226786ce416fa7b.jpg 3147w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/13a2dbfcff191fd4c226786ce416fa7b.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/13a2dbfcff191fd4c226786ce416fa7b.jpg?resize=768,512 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/13a2dbfcff191fd4c226786ce416fa7b.jpg?resize=1024,683 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/13a2dbfcff191fd4c226786ce416fa7b.jpg?resize=1536,1025 1536w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/13a2dbfcff191fd4c226786ce416fa7b.jpg?resize=2048,1367 2048w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/13a2dbfcff191fd4c226786ce416fa7b.jpg?resize=150,100 150w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/13a2dbfcff191fd4c226786ce416fa7b.jpg?resize=696,464 696w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/13a2dbfcff191fd4c226786ce416fa7b.jpg?resize=1068,713 1068w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/13a2dbfcff191fd4c226786ce416fa7b.jpg?resize=1920,1281 1920w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/13a2dbfcff191fd4c226786ce416fa7b.jpg?resize=629,420 629w\" sizes=\"auto, (max-width: 413px) 100vw, 413px\" \/><\/a><p id=\"caption-attachment-1004172259\" class=\"wp-caption-text\">The groundbreaking ceremony of the MEG plant.<\/p><\/div>\n<p>Lotte Chemical USA is relocating its headquarters from Houston to Lake Charles, La. The corporate office will join the company\u2019s $1.1 billion monoethylene glycol (MEG) plant, which is currently underway at the nexus of Interstates 10 and 210.\u00a0The Lake Charles site is expected to be the largest MEG plant in the U.S.<\/p>\n<p>Lotte entered in a joint venture with Axiall Corp. to develop the facility that broke ground in June 2016. \u00a0Besides developing the MEG plant, Lotte is also investing in a $1.9 billion joint venture with Westlake Chemical to build an ethane cracker complex on the 250-acre site that will accommodate both the future corporate headquarters and the upcoming plant. Combined, all three developments will represent more than $3 billion in new capital investment, 265 new direct jobs and more than 2,300 indirect jobs in the Calcasieu Parish. The plant in Lake Charles will produce monoethylene glycol, an ingredient used in manufacturing paper, textile fibers, latex paints, asphalt, antifreeze and coolants. All facilities are expected to start operations in 2019.<\/p>\n<p>The State of Louisiana offered the company a competitive incentive package, including a $12.5 million performance-based grant payable over three years. Additionally, Lotte will receive the comprehensive solutions of LED FastStart workforce training program, along with an Economic Development Award Program performance-based loan of\u00a0$1.47 million for site infrastructure improvements.<\/p>\n<p>\u201c<em>We selected Louisiana as the site for the state-of-the-art, steam-cracking facility and adjacent ethylene glycol plant due to the advantages of existing infrastructure, including access to competitive feedstock resources, as well as the distribution infrastructure and a skilled and well-trained workforce<\/em>,\u201d Lotte\u2019s CEO Steve Chung, said in a prepared statement.<\/p>\n<p><em>Image courtesy of\u00a0inspectioneering.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company will relocate its corporate headquarters from Houston to Lake Charles, where it is building the largest monoethylene glycol plant in the U.S.<\/p>\n","protected":false},"author":1055,"featured_media":1004172259,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21748,21742,21747],"tags":[34905,34904,34907,34906],"class_list":["post-1004172238","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-industrial","category-latest","category-office","tag-axiall","tag-lotte-chemical-usa","tag-steve-chung","tag-westlake-chemical"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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