Manufacturer of high pressure tanks, Hanwha Cimarron, intends on building a new Hanwha Cimarron Facility in Opelika and this facility will feature the production of carbon fiber-wrapped hydrogen storage tanks.
An agreement has been reached between Hanwha Cimarron LCC, a large business group from South Korea and Opelika City Council to construct the Hanwha Cimarron Facility in Opelika, which will be worth around $130 million.
Located North-East of the Opelika Industrial park, the Hanwha Cimarron Facility in Opelika will provide over 260 jobs and consist of a production plant building for manufacturing high-pressure tanks which are to be used in aerospace, defense, automotive, and energy fields. In addition, a building will be designed for the manufacturing of hydrogen storage tanks that have vast applications in the marine, rail, and gas transportation systems. The company is expected to complete the Manufacturing Facility in Opelika, sometime around the middle of next year.
A grant application, approved by the Opelika City Council has been submitted to the Alabama Department of Transportation and the Alabama Industrial Road and Bridge Corporation. The grant will bring about the construction of a 25-foot wide tarred road that will link the new Manufacturing Facility in Opelika to Northpark Drive. Financial inducements such as cash and performance incentives as well as tax abatements will be provided by the city as part of the project’s consensus.
According to the CEO of Hanwha Cimarron David Jeon, the new facility was built to help fuel the company’s growth in the carbon overwrap pressure vessel market.
Greg Canfield, Alabama Commerce Secretary said, “Hanwha Cimmaron can count on a skilled workforce and the support it needs to build a high-performance operation in Opelika.”
The mayor of Opelika, Gary Fuller in his remark said that they were pleased to have Hanwha Cimarron invest in their city with so much confidence. He emphasized on the contribution of a potent workforce, which the city will provide along with great living amenities.
Governor Kay Ivey also described the establishment of the manufacturing facility in Opelika as great news, while underlining the importance of the job creation the project will offer to hard-working citizens of Opelika.