Exxon (XOM) plans to build a multi-billion dollar chemical plant in Texas to take advantage of...

|About: Exxon Mobil Corporation (XOM)|By:, SA News Editor

Exxon (XOM) plans to build a multi-billion dollar chemical plant in Texas to take advantage of cheap North American shale gas, according to an environmental filing seen by Reuters. The plant could be online as soon as 2016 and would sharply boost Exxon's chemical production capacity, helping it better compete with rival Dow Chemical (DOW).