May 3, 2018 – Saudi Basic Industries Corporation (SABIC) and ExxonMobil have a created a new joint venture, Gulf Coast Growth Ventures, to advance development of the Gulf Coast Growth Ventures project in San Patricio County, Texas. Announced in 2016, the project will include a 1.8-million-ton ethane cracker, a monoethylene glycol unit, and two polyethylene units. The plant is expected to create 600 permanent jobs, 3,500 indirect and induced jobs, as well as 6,000 construction jobs. The facility is expected to be operational by 2022 and is currently pending completion of the environmental permitting process.
SABIC and ExxonMobile Launch Gulf Coast Growth Ventures
Tags: ArabArabiaBusinessbusiness councilbusiness developmentCommerceCouncil of Economic and Development AffairseconomicExxonExxonMobilfiscalGulf Coast Growth VenturesinitiativeinitiativesInvestmentjobjobsjoint ventureJVKSAMENAmiddle eastPrinceSABICSaudiSaudi ArabiaSaudi Basic Industries CorporationSaudi Intellectual Property AuthorityTexasTXU.S.U.S. Saudi Arabian Business CouncilUSUS Saudi Arabian Business CouncilUSSABCvision 2030