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SOUTH LOUISIANA METHANOL ANNOUNCE $1.3 BILLION INVESTMENT

(The following is a reformatted version of a press release
issued by the Office of the Governor of Louisiana and received
via electronic mail. The release was confirmed by the sender.) 
February 28, 2013 
Governor Jindal, South Louisiana Methanol Announce $1.3 Billion
Investment in St. James Parish
New methanol facility will result in over 430 new direct,
indirect jobs 
VACHERIE -- Today, Governor Bobby Jindal, South Louisiana
Methanol (SLM) CEO Barry Williamson and Todd Corp. Group CEO Jon
Young announced that South Louisiana Methanol LP will invest
$1.3 billion in a new methanol production facility on the banks
of the Mississippi River in St. James Parish. Located across the
river from the Nucor Corp. project in Convent, the project will
create 63 new direct jobs paying an average salary of $66,500 a
year, plus benefits. LED also estimates the project will result
in 374 new indirect jobs, for a total of more than 430 new jobs
for the area. 
Austin, Texas-based Zero Emission Energy Plant Ltd. (ZEEP) and
New Zealand-based Todd Corp. are joint owners of the project,
which will result in a world-scale methanol plant. Methanol is
used by manufacturers to produce every day goods such as
plastics, polyester fibers and fabrics, pesticides, fuel
additives, pharmaceuticals and adhesives for the wood products
industry. The SLM methanol facility will be located in the Port
of South Louisiana district, with access to interstate and
intrastate natural gas and carbon dioxide pipelines. 
Governor Jindal said, “Today is a great day for St. James Parish
and our entire state. The inexpensive price and high inventories
of natural gas in Louisiana--coupled with our incomparable
workforce and strong business climate--helped make it clear to
South Louisiana Methanol that Louisiana is the best place to
invest and create jobs. St. James Parish’s location on the
Mississippi River places it at the heart of Louisiana’s advanced
petrochemical manufacturing sector, complete with easy access to
a world-class interstate pipeline network and global shipping
infrastructure. South Louisiana Methanol’s investment is the
latest example of the renaissance our energy and chemical
industries are experiencing today, which is creating thousands
of good-paying jobs for our people.” 
As a liquid hydrocarbon product, methanol is easily distributed
as an intermediate feedstock for chemical manufacturers in the
Gulf Coast region and to foreign markets. ZEEP and Todd Corp.
chose St. James Parish for the new facility because of the
state’s strong business climate and the high inventories and
inexpensive price of natural gas in Louisiana, as well as the
area’s strategic shipping location at the Port of South
Louisiana--the largest port in the Western Hemisphere by
capacity. Since 2008, more than $32 million in investments and
upgrades have been made to the Port. 
“Louisiana offers a high-quality energy workforce, access to
abundant natural gas, and a strong network of pipelines and
transportation facilities, which makes it an ideal partner for
the production and distribution of methanol,” South Louisiana
Methanol CEO Barry Williamson said. “We will utilize proven
technology to build the largest methanol plant in North America,
which will consume CO2 for a more efficient process, ensuring
strong environmental stewardship.” 
LED began working with ZEEP on the South Louisiana Methanol
project in February 2012. To secure the project, the state will
offer an incentives package that includes a $5 million
performance-based grant for infrastructure costs, and services
of Louisiana’s top-ranked workforce development program, LED
FastStart®. In addition, the company is expected to utilize the
state’s Quality Jobs and Industrial Tax Exemption programs. 
“On behalf of all of St James Parish, we welcome ZEEP and its
South Louisiana Methanol facility to what has become a diverse
business and industrial family,” said St. James Parish President
Timmy Roussel. “From what we have learned, the technology to be
utilized and the products to be produced - combined with the
project size, employment levels and growth potential - would
make ZEEP a prized addition for any parish’s economy. And with
ZEEP’s focus on the development of premium fuels products
utilizing abundant natural gas, the entire River Region will
enjoy the benefits of this company’s choice to build here in St.
James Parish.” 
Construction of the project will begin in the fourth quarter of
2013, with hiring expected to begin in early 2015 and commercial
operations of the South Louisiana Methanol facility to start in
mid-2016. 
“During the last 10 months, the Port of South Louisiana has been
working diligently with officials from LED and the River
Parishes in the search for a site that would accommodate ZEEP’s
requirements,” said Executive Director and CEO Joel Chaisson of
the Port of South Louisiana. “Fortunately, after several visits
to our port, the company narrowed the search to a location in
St. James Parish. We are now excited to welcome the development
of a new energy plant, ZEEP, to St. James Parish and to our port
district. We are happy to hear ZEEP’s plans to develop a $1
billion methanol plant that will produce clean products and
offer employment to the residents of the River Region.” 
“Greater New Orleans Inc. is thrilled to welcome SLM to the
region,” said GNO Inc. President and CEO Michael Hecht. “Not
only will SLM bring $1.3 billion in investment and hundreds of
jobs, but this major funding of a clean manufacturing facility
proves again that Louisiana’s combination of unparalleled
logistics, Top 10 business climate and affordable natural gas
makes it an unbeatable location for large industrial projects.” 
About South Louisiana Methanol
South Louisiana Methanol LP will build and operate a world-scale
methanol production facility in St. James Parish, La. Located
along the Mississippi River at the Port of South Louisiana, the
facility will be supported by ZEEP Ltd. of Austin, Texas, and
Todd Corp., based in Wellington, New Zealand. The South
Louisiana Methanol site will be the largest of its kind in North
America, leveraging low-cost feedstocks in Louisiana into
premium chemicals in a gas-to-liquids process. For more
information, visit www.zeep.com. 
Press Office: Sean Lansing
Contact: 225-342-8006, (c) 225-454-7133 
(bjh) NY 
#<873920.660640.3.4.1.0.76>#
 
 
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