Home / Knowledge / News / Petrochemicals / ExxonMobil, SABIC to proceed with Texas project

ExxonMobil, SABIC to proceed with Texas project

30
Jun '19
Pic: Shutterstock
Pic: Shutterstock
ExxonMobil and SABIC have announced the decision to proceed with the construction of a chemical facility and a 1.8 million metric ton ethane steam cracker in San Patricio County, Texas, leading to thousands of high-paying jobs and billions in economic output. The project will also include construction of two polyethylene units and a monoethylene glycol unit.
 
The joint venture between ExxonMobil 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.
 
“Building the world’s largest steam cracker, with state-of-the-art technology, on the doorstep of rapidly growing Permian production gives this project significant scale and feedstock advantages,” said Darren W Woods, chairman and chief executive officer of ExxonMobil. “It is one of several key projects that provide the foundation for significantly increasing the company’s earnings potential.”
 
“SABIC is very pleased to move forward on this third joint venture with ExxonMobil – the first to be operated outside of Saudi Arabia,” said SABIC vice chairman and CEO Yousef Al-Benyan. “This project will not only increase global diversification for our company, but will also continue to create value within our new home of San Patricio County through creating jobs and supporting economic growth. With this project, we look forward to further building our business presence in the US and serving the communities and customers in the North and South American markets even more effectively.”
 
The project is expected to create more than 600 permanent jobs with average annual salaries of $90,000 per year. An additional 6,000 high-paying jobs will be created during construction. A preliminary independent study, conducted by Impact DataSource, estimates the project will generate more than $22 billion in economic output during construction and $50 billion in economic benefits during the first six years of operation.
 
The facility will produce materials used in the manufacturing of various consumer products including automotive coolants, packaging, agricultural film and building, construction materials and clothing.
 
Gulf Coast Growth Ventures is a unique opportunity created by the abundance of low cost US natural gas, and is part of ExxonMobil’s Growing the Gulf initiative initiative, which outlined plans to build and expand manufacturing facilities along the US Gulf Coast, creating more than 45,000 high-paying jobs across the region.
 
The project is part of SABIC’s growth strategy to build new petrochemical facilities in key markets, including the Americas, to address industry demand and achieve the company’s 2025 strategy. (RKS)
 

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 20th Jul 2019

Serbia's Maille Pirotex to open apparel manufacturing unit

Serbian textile company Maille Pirotex is planning to open an apparel ...

Pic: Shutterstock

Textiles | On 20th Jul 2019

Australia, India finalise new veterinary health protocol

India and Australia recently finalised a new veterinary health...

Pic: Shutterstock

Apparel/Garments | On 20th Jul 2019

BGMEA joins Fashion Industry Charter for Climate Action

The Bangladesh Garment Manufacturers and Exporters Association...

Interviews View All

Krishnanand Tripathi, Textrade International Ltd

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Karan Toshniwal, Orange O Tec

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Top executives, Textile industry

Top executives
Textile industry

Technical textiles industry moving back to Europe

Milva Morani,

Milva Morani

Brighi Technologies began in 1970 with trading and repairing sewing...

Erik Sy,

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Zafer Demirel,

Zafer Demirel

Turkey's Canlar Mechatronics is a leading designer and manufacturer of...

Mohammad Hassan, Biax Fiberfilm

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Mr Ambrose Chan, DSG International (Thailand) PLC

Mr Ambrose Chan
DSG International (Thailand) PLC

Mary-Cathryn Kolb, Brrr°

Mary-Cathryn Kolb
Brrr°

Atlanta-based private start-up Brrr° was founded in 2014 to develop...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search