Governor Bobby Jindal and Board Chairman Arunas Laurinaitis of Lithuania-based Investimus Foris announced the company will make a $265 million capital investment to convert an idle biofuels refinery in Grant Parish into an ammonia manufacturing facility.
Investimus Foris is buying assets of the former Vanguard Synfuels refinery in Pollock as the site for its new facility. The company also is negotiating with European and Asian companies to purchase and move ammonia plant components that will be coupled with existing plant infrastructure in Pollock to create the new ammonia facility. The Louisiana refinery had been operated as an ammonia plant before its acquisition by Vanguard Synfuels.
The plant will produce 500,000 tons of ammonia per year for use in agricultural applications. Most of it will be shipped by pipeline to destinations in the northern U.S. The company also is exploring foreign export markets. Construction is expected to start in the second quarter of 2016 and is scheduled to be completed within 26 months, in the third quarter of 2018.
Investimus Foris is affiliated with ICOR, a Lithuania-based conglomerate of companies specializing in manufacturing, energy, facilities management and other areas.