ibusinesslines.com February 25, 2018

Exxon Mobil plans $10B petrochemical plant near Texas coast

20 April 2017, 02:06 | Laverne Osborne

Exxon Mobil plans $10B petrochemical plant near Texas coast

A rendering of Exxon and SABIC's proposed plastics plant in San Patricio County

As anticipated, ExxonMobil Corp. and its Saudi Arabian partner agreed Wednesday to develop a world-class ethane steam cracker on the Texas Gulf Coast near Corpus Christi, a facility that if given final approval would be able to produce 1.8 million metric tons/year (mmty) of ethylene.

The proposed project, jointly owned by Saudi Basic Industries Corp., aka SABIC, is to be sited in San Patricio County in South Texas, feeding a monoethylene glycol unit and two polyethylene units.

The proposed multibillion-dollar investment would include an ethane steam cracker capable of producing almost 2 million tons of ethylene a year.

ExxonMobil Chemical Company and SABIC US Projects LLC have developed a partnership to build the plant for the production of components used to manufacture polyester, anti-freeze, plastic bottles and food packaging products for emerging global markets.

In formally announcing the project, Gov. Greg Abbott said the plant "illustrates that our business climate is exactly what leading and growing companies are seeking when investing in their future". Yousef Abdullah Al-Benyan, CEO of SABIC, added: "We are focused on geographic diversification to supply new markets". The fourth also was in Texas. "We were a strong finalist for this project, and we are very proud of the case we made on behalf of our state". After tax credits and rebates are subtracted, the company's Louisiana operations have paid more than $1 billion in state and local taxes during the past decade, Pierson says.

The project is expected to create 600 permanent fulltime jobs, another 11,000 jobs during its five-year construction and inject more than $50 billion into the local economy during the first six years of operations. "We're also proud of our record of progress in continuing to attract significant chemical manufacturing projects". Some residents circulated a petition citing safety and environmental concerns. The plant is set to be built less than 2 miles (3.22 kilometers) from the district high school. If you would like to discuss another topic, look for a relevant article.

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