MOSCOW (MRC) -- 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 US Gulf Coast, reported Reuters.
The proposed multibillion
dollar investment would include a world-scale ethane steam cracker capable of
producing 1.8 MMt 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, USD20 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 3,500 indirect jobs during
operations. It is also expected to generate more than USD22 billion in economic
output during the construction phase and more than USD50 billion in economic
output during the first six years of operations.
represents a significant milestone for both the local community and the state of
Texas," said Neil Chapman, president of ExxonMobil Chemical Company. "We wish to
thank local and state officials who have been instrumental in the site selection
process, as well as everyone in the community who attended meetings to learn
more about the project and provided us with constructive feedback. We will
continue listening to local residents and businesses and look forward to
continuing to work together."
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
"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."
As MRC wrote
before, ExxonMobil and SABIC have worked together for 35 years in major
chemical joint ventures in Saudi Arabia.
Sabic ranks among the world's
top petrochemical companies, and is among the worldï¿½s market leaders in the
production of polyethylene, polypropylene, advanced thermoplastics, glycols,
methanol and fertilizers. Sabic manufactures on a global scale in Saudi
Arabia, the Americas, Europe and Asia Pacific. The company operates in more than
50 countries across the world with 40,000 employees worldwide.
Chemical Company is one of the largest petrochemical companies worldwide. The
company holds leadership positions in some of the largest-volume and
highest-growth commodity petrochemical products in the world. ExxonMobil
Chemical Company has manufacturing capacity in every major region of the world,
serving large and growing markets. More than 90% of the company's chemical
capacity is integrated with large refineries or natural gas processing