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04 03, 2012 by Daily Advertiser
The Allen Parish Police Jury has approved a lease for the development and operation of a proposed $100 million refinery at a former chemical plant site just west of Oakdale.
Police jurors agreed Monday to lease 67 acres of commercial property at the old Arizona Chemical plant site to Virtual Engineering Operations of Kingwood, Texas, for a 20,000- to 40,000-barrels-a-day refinery.
The American Press reports (http://bit.ly/qjfACs ) the lease is for 49 years at a cost of $100 per acre for five years, then $1,000 per acre for the remainder of the lease.
Under the agreement, the company must maintain 35 permanent jobs.
VEOPS President J. Craig Harrington said construction is expected to begin by July and should be completed within 18 months.
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