- Associated Press - Wednesday, September 3, 2014

MATHEWS, La. (AP) - A Helsinki company’s U.S. subsidiary plans a $60 million plant in Louisiana to turn sugar cane waste into industrial sugars and biofuels.

Gov. Bobby Jindal and Virdia Inc. managing director Otavio Pontes said Tuesday the project will create 120 construction jobs and 81 full-time jobs averaging $55,000 a year.

The new plant will be next to a sugar mill in Raceland. Officials say Virdia has agreed to use 80,000 tons a year of crushed cane, called bagasse (buh-GAS).

Pontes says Virdia wants raw material that is readily available and cannot be used for food.

State incentives include tax incentives and a $1 million performance-based grant.

Virdia recently was bought by Stora Enso Oyj, a $14 billion-a-year paper, pulp and packaging company with operations worldwide.

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Online: https://www.storaenso.com/


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