ExxonMobil Plans New Ethylene and Polyethylene Plant with $8.6 Billion Investment

ExxonMobil has revealed its intentions to potentially construct a new ethylene cracker and polyethylene facility near Corpus Christi, Texas. This announcement comes as part of a tax incentive application, indicating that if the project goes ahead, it will be built in Calhoun County, just north of Corpus Christi. Construction is slated to begin in 2025, with completion expected by the end of 2030 and production starting in 2031.

While ExxonMobil has not disclosed specific capacity figures for the proposed plant, the estimated total capital investment could reach $8.6 billion. The company sees strategic advantages in the Gulf Coast region, suggesting that the project could integrate with its operations in the Permian Basin. However, the company is still evaluating other potential locations in the Middle East, Asia, and North America.

ExxonMobil stated, "Although this site has potential, our assessment process is still in the very early stages. Applying for tax incentives is a legal requirement and part of our due diligence to ensure our shareholders and the community are well-informed. We will continue to assess market conditions before making a final decision to meet global demand for our products."