Dow Chemical announces new investments on US Gulf Coast
As part of its investment strategy on the U.S. Gulf Coast, The Dow Chemical Co. recently confirmed locations for new construction projects in Texas and Louisiana.
In Freeport, Texas, Dow said it will expand its High Melt Index (HMI) AFFINITY™ brand polymer franchise and its ELITE™ polymer franchise.
In Plaquemine, La., the Midland, Mich.-based company will invest $1.06 billion to build two new polyolefins plants and upgrade its existing operations.
“The Dow Louisiana operations here in Plaquemine were the very first investment by The Dow Chemical Company in our state 57 years ago, and we’re continuing to see the fruits of billions of dollars in chemical manufacturing investments that are continuing to help drive our economy," said Louisiana Governor Bobby Jindal.
Construction will begin soon on these projects, which were initially announced in March 2013.
Dow said the new investments coupled with the company's current projects in the region are expected to generate earnings of approximately $2.5 billion.
“Dow Performance Plastics is the world’s leading plastics franchise and with these expansions Dow will be able to further leverage our cost-advantaged position and R&D expertise to deliver leading edge technology that provides a competitive benefit to our customers in many of our most strategic markets,” said Jim Fitterling, executive vice president for Dow. “Our history on the U.S. Gulf Coast reaches back more than 70 years, and we’re proud to continue our commitment to this important region with these strategic and accretive investments."