Partners David M. Hunter, Seth A. Levine, Jeffrey P. Good, and Boyd A. Bryan represented Bank of China as Louisiana counsel in the development of an investment agreement between Yuhuang Chemical Industries Inc. (YCI) and Koch Methanol Investments LLC (Koch Methanol). Koch Methanol acquired a minority equity interest in YCI Methanol One, which is currently constructing a $1.85 billion methanol production facility in St. James Parish. The deal signifies a substantial Chinese private investment in Louisiana and is the first private company construction project financing led by Bank of China in the United States. Construction of the new facility began in January 2017 and commercial production of methanol is expected to begin in 2020. Speaking of the investment agreement in a press release, Raymond Qiao, executive vice president of Bank of China, New York Branch, said, “This plant will create 100 permanent jobs while construction of the facilities will result in 1,000 construction jobs.” To read the full press release, click here. 

 

YCI is building a methanol complex on more than 1200 acres the Company purchased along River Road, between the Mississippi River and La. 3127, in 2015 and on the former site of the old St. James High School in St. James Parish. Construction of the $1.85 billion complex began in January 2017. Yuhuang Chemical first announced the St. James project in St. James Parish, La. in 2014.