Strategic Development Group helps Thai company select site, negotiate incentives for ethane cracker project
Indorama Ventures announces $175M investment in Southwest Louisiana.
Strategic Development Group (SDG), one of the nation’s leading site selection and economic development consulting firms, has helped client Indorama Ventures select a location for its new U.S. facility and secure state and local incentives.
Indorama will restart a dormant ethane cracker facility near Lake Charles, La., making a $175 million capital investment and resulting in 600-plus direct and indirect jobs. Based in Bangkok, Thailand, Indorama Ventures Public Co. Ltd., has through its U.S. subsidiary, Indorama Ventures Olefins LLC, acquired the facility and approximately 250 acres.
Strategic Development Group provided site selection services and facilitated negotiations with state and local government officials and utilities, according to SDG President Mark Williams.
“Ultimately, the company chose Louisiana for the availability of an existing facility and the strength of the state’s workforce training programs,” Williams said. “Incentives also played a role in the company’s decision and we were honored to negotiate with state and local leaders on the company’s behalf, resulting in a strong package.”
According to CEO Aloke Lohia, Indorama is targeting a commercial startup before the end of 2017, making the company the first from Thailand to take advantage of the shale gas revolution in the U.S. By finding an existing facility, the company will be ahead of the greenfield crackers being constructed. For more information, see the news release from Louisiana Economic Development.