Texas picked for site of multi-billion-dollar petrochemical plant
San Patricio County in Texas is to be the site a multi-billion-dollar petrochemical plant.
ExxonMobil Chemical Company and SABIC US Projects have formed a partnership to build the plant for the production of components used to manufacture polyester, anti-freeze, plastic bottles and food packaging products.
A Texas Enterprise Fund (TEF) offer of US$1.35m has been extended to SABIC and a TEF offer of US$5m has been extended to ExxonMobil. The project is expected to generate US$22bn in economic output during the construction phase and more than US$50bn in economic output during the first six years of operations.
“This decision by SABIC and ExxonMobil is a tremendous win for not just San Patricio County, but for the entire State of Texas,” said Governor Greg Abbott. “This record-breaking project illustrates that our business climate is exactly what leading and growing companies are seeking when investing in their future.”
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This article was published on 20 Apr 2017 (last updated on 20 Apr 2017).