Exxon, Sabic to Proceed With Chemical Facility in Texas

Date : 06/13/2019 @ 10:14PM
Source : Dow Jones News
Stock : Exxon Mobil Corp. (XOM)
Quote : 74.99  0.15 (0.20%) @ 7:59AM
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Exxon, Sabic to Proceed With Chemical Facility in Texas

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By Michael Dabaie

 

Exxon Mobil Corp. (XOM) and Saudi chemicals company Sabic said they would proceed with the construction of a chemical facility and a 1.8 million metric ton ethane steam cracker in San Patricio County, Texas.

The joint-venture between Exxon and Sabic, called Gulf Coast Growth Ventures, received final environmental regulatory approval in June 2019 to build an ethane steam cracker, two polyethylene units and a monoethylene glycol unit. Construction will begin in the third quarter of 2019 and startup is anticipated by 2022, the companies said.

The facility will produce materials used in the manufacturing of consumer products including automotive coolants, packaging, agricultural film and building, construction materials and clothing.

Project construction will be led by the Wood Group, McDermott and Turner Industries Group, Chiyoda and Kiewit, and Mitsubishi Heavy Industries and Zachry Group.

Ownership interests in the Gulf Coast Growth Ventures project is 50% Exxon and 50% Sabic, with Exxon as site operator. The investment would create 6,000 jobs during construction and 600 permanent jobs, the companies said.

 

Write to Michael Dabaie at michael.dabaie@wsj.com

 

(END) Dow Jones Newswires

June 13, 2019 09:59 ET (13:59 GMT)

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