June 17, 2019 – Saudi Basic Industries Corporation (SABIC) and Exxon Mobil Corporation announced the construction of a $9 billion petrochemical plant in Texas beginning in the third quarter of 2019. The facility is expected to have the world’s largest ethane processing capacity. Named the Gulf Coast Growth Ventures, the joint venture will have the capacity to produce 1.8 million metric tons per year and will house a monoethlyene glycol unit and a pair of polyethylene units. Construction of the plant will be led by the Wood Group, McDermott & Turner Industries Group, Chiyoda & Kiewit, Mitsubishi Heavy Industries and Zachry Group and is expected to be operational by 2022.
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