SABIC, ExxonMobil expect Gulf Coast JV to start operations in Q4 2021

27/07/2021 Argaam

A petrochemicals complex

ExxonMobil said that their joint venture, Gulf Coast Growth Ventures with Saudi Basic Industries Corp. (SABIC), reached mechanical completion of a monoethylene glycol unit and two polyethylene units.

 

The project startup is expected to begin ahead of schedule, likely in the fourth quarter of the year.

 

In September 2019, SABIC and ExxonMobil announced the beginning of construction works at their joint petrochemicals complex, expecting operations to commence by 2022, Argaam reported.

 

In May 2018, SABIC and ExxonMobil US Gulf Investment Co., a fully-owned subsidiary of ExxonMobil, agreed on establishing the JV in Texas based on a feasibility study conducted in April 2017. The project cost was estimated at $7.3 billion (SAR 27.4 billion).

 

The project includes a 1.8 million metric ton ethane steam cracker.

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