Ruling Paves Way to Restart Work on Exxon’s Texas LNG Plant
- Bankruptcy judge approves settlement with contractor Zachry
- Other companies will finish Zachry’s work on Golden Pass plant
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A bankruptcy judge on Wednesday approved a settlement between the joint venture building Exxon Mobil Corp.’s $10 billion gas export project in Texas and lead contractor Zachry Holdings Inc., allowing other companies to finish work on the plant.
The decision caps months of delays at the Golden Pass liquefied natural gas facility under construction near the Louisiana border. San Antonio-based Zachry, citing cost overruns on the project, filed for bankruptcy in May and jettisoned thousands of workers, grinding work nearly to a halt.