31 January 2011 15:58 [Source: ICIS news]
HOUSTON (ICIS)--US-based oil producer Chevron plans to build a $1.4bn (€1.0bn) base oils plant at its refinery in Pascagoula, Mississippi, the company said on Monday.
The move would make the company the world's largest producer of premium base oils, Chevron said.
The plant would have a capacity of 25,000 bbl/day of premium base oil, the company said.
Chevron said it expects to complete construction by the end of 2013.
The project would serve markets in North America, Latin America and Europe, the company said.
The Mississippi plant would roughly double Chevron's premium base oil production, the company said.
The project would generate about 1,000 jobs during construction and about 20 permanent positions, the company said.
Currently, Chevron makes premium base oils at its refinery in Richmond, California and through a joint venture at Yeosu, South Korea, the company said.
($1 = €0.74)
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