The company, which is one of the biggest manufacturers of smokeless fuels in Europe, plans to build a new bio-fuels plant at the Port of Foynes.
The company is capitalising on the intention by politicians in Dublin and Belfast to ban smoky coal by 2016.
Limerick 2030 is aimed at transforming the city over the next two decades.
Under the plan, the Arthurs Quay Park area is to redeveloped, and the city’s tax office at Sarsfield House is to be demolished to make way for a new city centre plaza, all linking with the River Shannon waterfront.
The aim of the plan is to reposition Limerick city centre as the main shopping area of the region and to create a vibrant location to attract knowledge-based jobs.
There are also plans for an innovation centre for start-up businesses and third level education.