13 October 2013 10:05 [Source: ICB]
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.
CEO Cella in first mover position
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 engineering and construction firms 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.
“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,” said CEO Peter Cella.
“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,” he added.
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