Exxon Mobil has announced plans to increase its petrochemical manufacturing output through the expansion of its Baton Rouge and Port Allen plants in Louisiana. A company official said that the expansion project will begin by the end of this year and is expected to be completed by 2014. The US$215 mln expansion project will take the company’s capital expenditures in Louisiana to over US$1 billion in three years. In view of the expected increase in jobs created by the expansion, the state of Louisiana will be providing a US$1.8 mln modernization tax credit to the company, payable over the next five years.
09-Oct-12 
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