Todd Energy says it will build a $65 million liquid petroleum gas (LPG) plant in Taranaki.
The plant to be built at its McKee site, 20km south-east of New Plymouth, is expected to be completed in 12 months.
Construction would create "in excess of 200,000 man hours of work, of which the majority will involve Taranaki people and businesses, over 12 months", managing director Richard Tweedie said.
Once commissioned, the plant will produce 27,000 tonnes of LPG a year, sourced from the nearby Mangahewa and offshore Pohokura fields, and deliver the product to customers via Todd Energy's retail company, Nova Energy.
LPG is a by-product of gas extraction.
Tweedie said the McKee site was ideal because it was already set up for industrial activity and the new LPG plant would "maximise the use" of existing infrastructure and have a "low impact" on the area.
Todd Energy, the energy company of the wealthy Todd family, had more than 50 years' experience in the Taranaki energy industry, he said.
"We consider Taranaki our home. We will certainly ensure all reasonable steps are taken to minimise the impact of the project."
"Positive discussions" had been held with the Taranaki Regional Council and New Plymouth District Council and all consents have been signed off for the project to proceed to the construction stage, he said.
"We hope to be able to confirm the project's contractors in the next few weeks.
"The new plant will also help reduce New Zealand's dependence on imported LPG which is good news for the country's economy."
