USA: Plant Construction Sabic and Exxon Mobil Move Forward with Gulf Coast Growth Ventures Project
The Gulf Coast Growth Ventures project includes construction of a chemical facility and a 1.8 million metric tonne ethane steam cracker in Texas, USA. The project is anticipated to create an economic output of 22 billion dollar plus during construction and 50 billion dollars during the first six years.
Texas/USA – Exxon Mobil and Sabic have recently announced the decision to proceed with the construction of a chemical facility and a 1.8 million metric tonne ethane steam cracker in San Patricio County, Texas. The project is expected to generate thousands of high-paying jobs and billions in economic output. The joint-venture called Gulf Coast Growth Ventures received final environmental regulatory approval in June 2019 to build an ethane steam cracker, two polyethylene units and a monoethylene glycol unit. Construction will begin in the third quarter of 2019 and startup is anticipated by 2022.
The project is expected to create more than 600 permanent jobs with average annual salaries of 90,000 dollars per year. An additional 6,000 high-paying jobs will be created during construction. A preliminary independent study, conducted by Impact Data Source, estimates the project will generate more than 22 billion dollars in economic output during construction and 50 billion dollars in economic benefits during the first six years of operation.
The facility will produce materials used in the manufacturing of various consumer products including automotive coolants, packaging, agricultural film and building, construction materials and clothing.
Project construction will be led by four primary engineering, procurement and construction companies: The Wood Group, Mc Dermott & Turner Industries Group, Chiyoda & Kiewit and Mitsubishi Heavy Industries & Zachry Group.
Gulf Coast Growth Ventures is a unique opportunity created by the abundance of low cost U.S. natural gas, and is part of Exxon Mobil’s Growing the Gulf initiative, which outlined plans to build and expand manufacturing facilities along the U.S. Gulf Coast, creating more than 45,000 high-paying jobs across the region.
The project is part of Sabic’s growth strategy to build new petrochemical facilities in key markets, including the Americas, to address industry demand and achieve the company’s 2025 strategy.
Ownership interests in the Gulf Coast Growth Ventures project is 50 per cent Exxon Mobil and 50 per cent Sabic, with Exxon Mobil as site operator. Exxon Mobil and Sabic bring unmatched expertise to this project, having worked together in petrochemical ventures for more than 35 years. The Gulf Coast Growth Ventures project expands that successful international relationship.