RESERVE — A proposed $1.35 billion investment into the Port of South Louisiana would establish one of the world's largest renewable biofuels production facilities, Louisiana Economic Development said Tuesday.

Toronto-based Woodland Biofuels' investment would utilize waste biomass to produce sustainable biofuel to be used in transportation, heating and electricity generation.

According to Woodland Biofuels, the project would include the largest renewable natural gas production plant in the world. The company said it expects to permanently remove hundreds of thousands of tons of carbon dioxide from the atmosphere annually and store it safely underground at a carbon sequestration site to be determined at a later date.

If the project moves forward, the company expects to create 110 direct new jobs with an average annual salary of more than $90,000. Louisiana Economic Development estimates that the project would result in 259 indirect new jobs for a total of 369 potential new jobs.

Woodlands Biofuels estimates that the project, which will be located in the Globalplex multimodal facility at the Port of South Louisiana, would also create approximately 500 construction jobs.

A front-end engineering design study for the site is anticipated to be finalized by the second quarter of 2025, with a final investment decision expected by the end of next year, LED said. Commercial operations for the first phase of the project are projected to start in 2028.