Exxon begins construction of Texas chemical plant

Exxon Mobil (XOM -0.6%) says it has started construction on a new ethane cracker in Baytown, Tex., and begun expanding a plant at nearby Mont Belvieu, part of a plan to produce more high performance premium plastics for export to global markets.

XOM expects the Baytown plant will be able to produce 1.5M metric tons/year of ethylene and to begin production in 2017; it does not provide a specific cost estimate for the project, only that it is a "multi-billion dollar' effort.

From other sites
Comments (3)
  • CapeCapMgmt
    , contributor
    Comments (1903) | Send Message
    As usual for the XOM brass......Money well spent!!!!!
    19 Jun 2014, 12:28 PM Reply Like
  • User 353732
    , contributor
    Comments (5168) | Send Message
    No company is as good as XOM in building global value chains.
    Its acquisition of very large natural gas reserves via XTO now appears to be a wise and prescient strategic move with multi decade consequences for wealth creation
    19 Jun 2014, 12:37 PM Reply Like
  • DonSimon
    , contributor
    Comments (156) | Send Message
    Reason to build it in the USA? Much cheaper gas as raw material. Thanks to fracking!
    25 Jun 2014, 03:45 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs