ExxonMobil and SABIC announced on Monday that its 50/50 joint venture, Gulf Coast Growth Ventures, had reached mechanical completion of two polyethylene (PE) units and a monoethylene glycol unit at its complex near Corpus Christi, Texas. The two companies said the complex would start up ahead of schedule in the fourth quarter of 2021. The complex has two PE plants with a combined capacity of 1.3 million tons/year and a 1.1 million tons/year MEG unit. It also features an ethane cracker capable of producing up to 1.8 million tons/year of ethylene.
The companies said the GCGV project opened more than 600 permanent jobs with annual salaries averaging $90,000. During the construction phase, it also created an additional 6,000 high-paying jobs. It has generated over $22 billion in economic output for Texas during construction and is forecast to make $50 billion in economic benefits in the first six operational years.
