Hazelwood Energy Hub plans to build a $400 million facility in St. Landry Parish that can store and blend 10 types of crude oil for its customers, a development that will create 123 jobs.

According to Louisiana’s economic development agency, the new jobs will have an average annual salary of $63,500 plus benefits. The plant is expected to create 145 indirect jobs and 200 construction jobs.

The blending facility will include four salt dome storage caverns and above-ground tanks for up to 13 million barrels of storage, with opportunities for expanding the facility, officials said. Construction is expected to begin by early 2016, with completion by early 2018.

The Hazelwood site sits on 750 acres adjacent to Spectra Energy’s Bobcat Gas Storage facility in Port Barre, which Hazelwood President Bob Edmundson developed a decade ago. That facility was sold by Edmundson and other investors to Spectra Energy in 2010.

Louisiana Economic Development Department officials, Hazelwood executives and St. Landry Parish officials, along with community and business leaders, announced the Hazelwood project in Opelousas on Wednesday.

Hazelwood will have access to a pipeline network and will operate a barge loading and unloading facility at the Port of Krotz Springs on the Atchafalaya River. The site is also adjacent to the Union Pacific railroad and U.S. 190, which connect the facility to customer markets throughout the Gulf Coast, officials said.

The facility will provide storage for several crude varieties, with the ability to blend up to 10 types of crude simultaneously. Hazelwood’s customers can specify the characteristics they want in their crude blend in order to match markets and refinery capabilities. Hazelwood noted 17 refineries are within its proposed market.

The state began discussing a potential project with the company in December. Hazelwood considered sites in Texas, Arkansas, Mississippi and Alabama before choosing Louisiana.

The company is expected to use Louisiana’s Quality Jobs program.

Stone Bridge Energy Partners, a Houston-based developer of energy and chemicals projects, is the lead developer of the Hazelwood project. Stone Bridge, in partnership with other investors, is pursuing opportunities in the North American energy industry.

Other key business partners and contractors expected to be involved in the project include Cameron Measurement Systems, Florida Marine, Macquarie Energy, Quanta Services, SGS Petroleum and WSP/Parsons Brinckerhoff.