USA: Ethane Cracker Sabic and Exxon Mobil Create New JV for Gulf Coast Project
Sabic and Exxon Mobil have created a new joint venture to advance development of the Gulf Coast Growth Ventures project, a 1.8 million tonne ethane cracker currently planned for construction in San Patricio County, Texas. The facility will also include a monoethylene glycol unit and two polyethylene units.
Riyadh/Saudi Arabia; Spring/USA — The announced JV is the third one between the two companies. Sabic is the operating partner for two long-standing joint ventures with Exxon Mobil in the Kingdom of Saudi Arabia, Kemya in Jubail and Yanpet in Yanbu.
The Saudi oil company announced, that the creation of the new joint venture allowed the two companies to continue advancing the project, which is expected to create 600 new, permanent jobs, about 3,500 indirect and induced jobs during operations, as well as 6,000 construction jobs during the peak of construction.
Construction of the project, announced in 2016, is pending completion of the environmental permitting process. The plant is expected to be operational in the 2021-2022 timeframe.