ExxonMobil and Sabic Select Location for Joint Petrochemical Project
ExxonMobil Chemical Company and Sabic each announced the selection of a site in San Patricio County, Texas for potential development of a jointly owned petrochemical complex on the U.S. Gulf Coast. The proposed multibillion dollar investment would include a world-scale ethane steam cracker capable of producing 1.8 million t of ethylene per year, which would feed a monoethylene glycol unit and two polyethylene units.
The proposed project, one of 11 ExxonMobil announced as part of its 10-year, USD 20 billion Growing the Gulf initiative, is expected to create thousands of jobs during the construction phase, as well as 600 new, full-time jobs and 3500 indirect jobs during operations. It is also expected to generate more than USD 22 billion in economic output during the construction phase and more than USD 50 billion in economic output during the first six years of operations.
“We are focused on geographic diversification to supply new markets,” said Sabic vice chairman and CEO Yousef Abdullah Al-Benyan. “The proposed venture would capture competitive feedstock, capitalize on the growing global demand for ethylene-based products, and reinforce Sabic’s strong position in the value chain.”
With site selection completed, ExxonMobil and Sabic will now apply for the necessary air and wastewater permits from the Texas Commission on Environmental Quality. Each company will make a final decision on the investment after the required permits have been granted.
ExxonMobil Chemical Company
SABIC Saudi Basic Industries Corporation
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