03 October 2013 14:28 [Source: ICIS news]
HOUSTON (ICIS)--Chevron Phillips Chemical’s (CP Chem) board has granted final approval for the company’s planned petrochemicals project on the US Gulf Coast, and the company awarded engineering contracts for the project’s ethane cracker and polyethylene (PE) plants, it said on Thursday.
Construction will begin in early 2014. The ethane cracker will be built at CP Chem’s Cedar Bayou plant in ?xml:namespace>
CP Chem said that it awarded an engineering, procurement and construction (EPC) contract for the 1.5m tonne/year cracker to a joint venture between petrochemicals engineers JGC and Fluor. The EPC contract for the two PE facilities, each with a capacity of 500,000 tonnes/year, went to Gulf Coast Partners, a partnership between Technip and Zachry Industrial.
CP Chem first announced the US Gulf Coast Petrochemicals Project in March 2011.
“Site preparation is in progress, critical equipment for the project has been ordered, expansion of the supporting infrastructure has commenced, and the company has executed a contract for the fabrication of the rail cars needed to supply product to our customers,” the company said in a statement.
CEO Pete Cella added: “We remain in the first mover position as we take another critical step in executing a project that will benefit our customers, suppliers, local communities and existing and future employees.”
“We are able to realize this important milestone thanks to continued strong growth in demand for our products, shale resource development in the US and the tremendous support of our owners,” Cella added.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections