Exxon, SABIC Choose Texas Location for Joint Project
ExxonMobil and Saudi Basic Industries Corporation (SABIC) have selected a site for a petrochemicals project. The companies plan to locate the potential joint venture in San Patricio County near Corpus Christi. ExxonMobil and SABIC will decide whether or not to fully commit to the project after applying for and receiving permits for air and wastewater from the Texas Commission on Environmental Quality. The $9.3 billion complex will feature an ethane steam cracker that will produce 1.8 million tonnes per year of ethylene, which would then be used to supply two polyethylene (PE) units and one monoethylene glycol (MEG) unit in order to make plastic. Projections indicate that the joint venture will generate $22 billion during construction and an additional $50 billion in economic output for the initial six years of production after an estimated 2023 completion. The project will create 600 direct jobs and 3,500 indirect jobs.