Chevron Phillips Chemical To Begin $6 Billion In Local Construction In 2014
by: Andrew Schneider, October 4, 2013 5:10:00 am
Board approval was the final hurdle for the upgrade projects, first announced in March 2011. The new construction will greatly expand the plants’ capacity to manufacture ethane and polyethylene — chemicals used in producing a wide variety of plastic goods.
Ron Corn is vice president of planning and development for Chevron Phillips Chemical.
“For Chevron Phillips, with a book asset value of a little more than $9 billion, a $6 billion investment is quite a commitment. You know, our last major projects [for] the last decade have been in the Middle East, where we’ve been involved with over $12 billion of investment there. So, moving back and investing in Texas is something that is exciting for us.”
Corn says building the new plants will generate about 10,000 construction jobs. Chevron Phillips will also add 400 permanent jobs to operate the plants. Construction is set to begin early next year and run through 2017.