US Valero mulls up to $3.4bn in projects

31 March 2008 16:41  [Source: ICIS news]

HOUSTON (ICIS news)--US refiner Valero will build a $1.4bn (€882m) refinery expansion and possibly a $2bn benzene-recovery unit at its complex in St Charles, Louisiana, the company said on Monday.

The recovery unit is still a proposal pending approval by the company's board, said Bill Day, spokesman. Valero has not scheduled a date when it will present the project to the board for approval, he said.

Construction on the refinery expansion should start next year, and it could be completed as early as 2010, Day said.

The company is building a new 50,000 bbl/day hydrocracker, he said, expanding crude capacity to 235,000 bbl/day from 190,000 bbl/day.

Valero is also expanding its coker to 80,000 bbl/day from 70,000 bbl/day, he said.

($1 = €0.63)
By: Al Greenwood
+1 713 525 2653

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