ExxonMobil and SABIC announced to proceed with the construction of a chemical facility including two polyethylene units and a monoethylene glycol unit, as well as a 1.8 million metric ton ethane steam cracker in San Patricio County, TX, USA. The companies received final environmental regulatory approval in June 2019. Construction will begin in the third quarter of 2019 and startup is anticipated by 2022.
The 50/50-joint venture, called Gulf Coast Growth Ventures, takes advantage of the low-cost U.S. natural gas, is the third joint venture between SABIC and ExxonMobil, and the first to be operated outside of Saudi Arabia. ExxonMobil will be the site operator.
The companies announced to create more than 600 permanent jobs with average annual salaries of $90,000 per year and 6,000 high-paying jobs. Impact DataSource, Austin, TX, USA, estimates that the project will generate more than $22 billion in economic output during construction and $50 billion in economic benefits during the first six years of operation.