Lucas Oil stabilizer to be made in North Carolina
Lucas Oil is making the largest amount of stabilizers for the U.S. oil industry.
The company said Wednesday it will be the first to make the product in North Carolinians as well as the second state to produce it.
The announcement came a day after Lucas Oil announced that it had secured a $1.3 billion loan to build a new plant in North Charleston.
Lucas Oil CEO and President Ken Fields said the project will create more than 600 direct and indirect jobs.
Fields said Lucas Oil has been focused on its expansion into other areas and is now focused on bringing the product to the U, Canada and Europe.
The Lucas Oil-owned refinery in Tar Heel, North Carolina, was the site of a massive fire last year that left more than 1,500 people displaced.
The refinery’s fire destroyed a number of equipment, including gas turbines and a large number of refrigeration units.
Lucas has also built a new refinery in the small town of Northfield.
The North Carolina project will produce about 1 million gallons of the stabilizer a month, Fields said in a statement.
“We’re excited to have this opportunity to expand the production of our products to more markets,” Fields said.
Lucas is a subsidiary of Koch Industries, the world’s largest oil producer.
The plant will be built in a state that’s in the midst of a major drought and a wildfire that killed more than 100 people.
The project is expected to create at least 1,000 direct and indirectly jobs, according to Fields.
The governor’s office says the company has pledged to create 1,200 jobs in the state.