PRESTONSBURG, Ky. (May 10, 2018) — A technology plant has announced a $325 million investment for the first of three facilities coming to a Kentucky county.
WYMT-TV reports that RCL Chemical has partnered with Y2X Infrastructure to secure the funding for a facility to operate clean conversion of natural gas-to-liquids technology, announced May 10.
Floyd County judge-executive Ben Hale says the facility will change the landscape of the region, which has long been dependent on coal. The Eastern Kentucky county was picked for its available infrastructure and ready access to natural gas.
RCL Chairman Bill Johnson praised Floyd and Pike counties for their patience and support.
The project is expected to generate more than 500 construction jobs. Permanent jobs will follow as facility operations grow. It’s expected to be operational by 2020.