ExxonMobil, SABIC to proceed with Gulf Coast Growth Ventures project
June 13, 2019 ExxonMobil and SABIC today announced the decision to proceed with the construction of a chemical facility and a 1.8 million metric ton ethane steam cracker in San Patricio County, Texas, leading to thousands of high-paying jobs and billions in economic output. New facility to include 1.8 million metric ton ethane steam cracker Investment to create 6,000 jobs during construction, 600 permanent jobs Economic output to exceed $22 billion during construction and $50 billion during first six years “Building the world’s largest steam cracker, with state-of-the-art technology, on the doorstep of rapidly growing Permian production gives this project significant scale and feedstock advantages,” said Darren W. Woods, chairman and chief executive officer of ExxonMobil. “It is one of several key projects that provide the foundation for significantly increasing the company’s earnings potential.” The joint-venture between ExxonMobil and SABIC, called Gulf Coast Growth Ventures, receiv...