A European-based, tire-recycling company will soon establish its first facility in the U.S.
Life for Tyres, an end-of-life tire recycling company, plans to invest $46 million to construct a recycling and manufacturing plant at the Port of South Louisiana, according to Louisiana Economic Development (LED).
“A strong industrial ecosystem, the availability of qualified personnel and suppliers, excellent connectivity, abundance of feedstock and proximity of our final clients are just a few of the many reasons why L4T Group, following a thorough market study, decided for Louisiana to be home to our first investment in the U.S.,” L4T CEO Tilen Milicevic said.
The project, according to Governor Jeff Landry, is a “perfect example” of ports having the power to bring investments and job creation to the state.
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“In addition to the tremendous impact this foreign investment will have on the state and local economies, L4T will support Louisiana-based oil and gas and petroleum chemical companies with high-quality sustainable commodities that help them achieve their carbon management goals,” Landry said.
The purpose of the plant, which will be housed on 10 acres, will be to convert end-of-life tires into “high-quality, sustainable commodities such as advanced biofuel feedstock, recovered carbon black and scrap steel,” according to LED.
Port of South Louisiana CEO Paul Matthews said the port has made environmental sustainability a part of its mission to create jobs and secure investments.
“The first of its kind in the nation, L4T Louisiana will be a world-class, carbon positive facility where Louisiana’s workers will produce high-quality totally sustainable commodities,” Matthews said. “This project will be a welcome addition to Globalplex, making it a greener and more efficient facility with room to grow.”
Life for Tyres is headquartered in Ireland and recently expanded into Spain.
