Chevron Phillips to Spend $5 Billion on Texas Ethylene Plant
This article is for subscribers only.
Chevron Phillips Chemical Co., a joint venture equally owned by Chevron Corp. and ConocoPhillips, will spend about $5 billion to build one of the first new ethylene production facilities in the U.S. since 2001.
The company selected its site in Baytown, Texas, for new factories to convert ethane into ethylene starting in 2017, The Woodlands, Texas-based Chevron Phillips said today in a statement. The cost includes an ethylene plant, known as a cracker, capable of producing 1.5 million metric tons of the gaseous chemical a year, and two plants for making polyethylene plastic, said Melanie Samuelson, a company spokeswoman in an interview.