ExxonMobil Chemical and SABIC have selected a site in San Patricio County, Texas, near Corpus Christi, for developing a jointly owned petrochemical complex on the US Gulf Coast.
ExxonMobil and SABIC will now apply for air and wastewater permits from the Texas Commission on Environmental Quality (TCEQ). Each company will make a final decision on the investment after the required permits have been granted.
The proposed multibillion-dollar investment would include a world-scale ethane steam cracker capable of producing 1.8 million tons/year of ethylene, which would feed an ethylene glycol unit and two polyethylene units.
“We are focused on geographic diversification to supply new markets,” says Yousef Abdullah al-Benyan, vice chairman and CEO of SABIC. “The proposed [JV] would capture competitive feedstock, capitalize on the growing global demand for ethylene-based products, and reinforce SABIC’s strong position in the value chain.”
Earlier this year SABIC confirmed a local press report that the partners were targeting San Patricio County. ExxonMobil and SABIC have jointly operated major chemical ventures in Saudi Arabia for 35 years. The proposed project would be their first joint venture in the United States.
By Francinia Protti-Alvarez
Source: Chemical Week
CF Industries Holdings, Inc. (NYSE: CF) today announced that it has closed its acquisition of Incitec Pivot Limited’s (“IPL”) ammonia production complex located in Waggaman, Louisiana. Under the terms of the agreement, CF Industries purchased the Waggaman ammonia plant and related assets for $1.675 billion, subject to adjustments.
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