September 1, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Westlake Chemical Corp. (NYSE: WLK) said that it is proceeding with the construction of a new chlor-alkali plant to be located at its vinyls manufacturing complex in Geismar, Louisiana.

According to Westlake, the new unit should produce 250,000 electrochemical units annually, bringing the company's total estimated ECU capacity upon completion to 525,000 per year.

The construction costs for this chlor-alkali facility are estimated to range between $250 million and $300 million. The project is targeted for start-up in the second half  of 2013 and will be partially funded by the Gulf Opportunity Zone bonds issued by the company.

Westlake expects that the plant will create around 100 permanent positions and 400 to 500 construction jobs. The new unit will be adjacent to the existing vinyl chloride monomer and polyvinyl chloride facilities at the Geismar complex.

Texas-based Westlake Chemical is a manufacturer and supplier of petrochemicals, polymers and fabricated products.

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