More than $300 million invested in project
CALVERT CITY Ky. (Oct. 27, 2014) — Gov. Steve Beshear today joined company officials and local leaders to celebrate the expansion of Westlake Chemical in Marshall County.
Westlake Chemical, a global petrochemical and building products manufacturer and supplier, has spent in excess of $300 million on the project.
The investment includes expanding ethylene production capacity and converting Westlake’s feedstock from propane to ethane to leverage low cost ethane being developed in regional shale gas areas.
Additionally, PVC resin capacity has been increased to meet the growing demands of global customers.
“We have enjoyed a long and rewarding relationship with Kentucky, operating since 1990 in Calvert City,” said Westlake Chemical president and CEO Albert Chao. “We have seen our footprint grow substantially during this time and have invested approximately $1 billion in our Calvert City operations. With the recent development in shale technology, which increased the availability of ethane, we saw an opportunity to take advantage of this cost advantaged feedstock and further expand our vinyls business. Our Kentucky operations are a vital hub for Westlake and we are proud to be a responsible corporate citizen of this great state.”
Westlake Chemical is an international manufacturer and supplier of petrochemicals, polymers and building products. These products are used in making everyday items such as packaging, plastic wrap, tires, PVC pipes, windows and fencing.
Westlake Chemical’s Calvert City facility employs approximately 400 employees along with 150 core contractors and has been in operation for nearly 25 years. During the peak of the project, more than 500 construction jobs were created to complete the expansion.
The Kentucky Economic Development Finance Authority approved tax incentives up to $20 million through the Kentucky Reinvestment Act (KRA). KRA is designed to assist companies that need to make significant capital investment in Kentucky facilities in order to remain competitive.