Eastman Chemical Company announced its plans to develop a $1.6 billion state-of-the-art industrial gasification facility to be located in
The new facility is expected to generate 1,300 to 1,500 construction jobs and more than 250 permanent jobs, accounting for more than $686 million in direct and indirect employee compensation over a 10-year period.
According to an independent economic analysis, it is estimated that Eastman’s new facility will generate an additional $124 million in local tax revenue and a $210 million increase in local sales revenue over a ten-year period.
Front-end engineering and design for the facility, which will utilize petroleum coke as its feedstock, will begin immediately, with construction expected to be underway by early 2009. Eastman expects the plant to be online in 2011.
“Eastman industrial gasification is blazing a new trail for the entire chemical industry, shifting the paradigm to manage our resources more responsibly at the same time we are improving profitability,” said J. Brian Ferguson, chairman and CEO of the $7.5 billion diversified chemical company.
Industrial gasification, an advanced technology in which coal, pet coke or other plentiful domestic feedstocks are turned into synthetic natural gas or chemical raw materials, boasts significantly reduced pollutant emissions. The
Since 1983, Eastman has successfully operated a gasification facility at its
The gasification facility will produce hydrogen, methanol and ammonia, chemical industry feedstocks that are usually derived from oil or natural gas. These feedstocks frequently serve as the base material for everyday products ranging from plastics, paints, photographic film and pharmaceuticals.
The
