ExxonMobil (NYSE: XOM) has taken a final investment decision advancing more than $240 million in capital improvements to enhance processing capacity and flexibility at its refinery in Baton Rouge, La., the Louisiana Economic Development (LED) department reported Wednesday.
“We are delighted with ExxonMobil’s decision to move forward with this important suite of projects,” remarked Louisiana Gov. John Bel Edwards in an LED written statement emailed to Rigzone. “These latest capital upgrades will continue to position the integrated ExxonMobil refinery and chemical complex here in Baton Rouge as one of the world’s most innovative and competitive energy sites.”
According to LED, the capital projects will improve processing capacity, increase flexibility for meeting market demand, boost overall site competitiveness, and install technology expected to cut volatile organic compound emissions by 10%. The state agency pointed out the projects will help to retain 1,300 jobs at the refinery, located in the northern tier of Baton Rouge, and support 600-plus onsite construction jobs over three years.
LED also stated the investment will provide more than 20 full-time job opportunities for graduates of the North Baton Rouge Industrial Training Initiative, which offers area residents no-cost, fast-tracked industrial craft training. In addition, it noted that ExxonMobil will take advantage of state industrial tax exemption incentives for the projects and focus on offering supplier opportunities to North Baton Rouge businesses.
“Louisiana and the Baton Rouge community have helped make this suite of projects a reality by offering strong support and the opportunity to collaborate to ensure this investment provides benefit for our citizens and local businesses,” commented David Oldreive, Baton Rouge Refinery manager. “Through this investment, we will reduce the facility’s volatile organic compound emissions up to 10% while bringing direct value to the community through increased tax revenue and job opportunities for local residents and small and diverse businesses. ExxonMobil has made significant progress to reduce emissions globally and plans further reductions in greenhouse gas emissions by 2025.”
Located along the Mississippi River, ExxonMobil’s 112-year-old Baton Rouge Refinery boasts approximately 517,000 barrels per day of crude processing capacity. LED stated that construction is set to begin later this year.
To contact the author, email mveazey@rigzone.com.
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