31 October 2013 22:15 [Source: ICIS news]
HOUSTON (ICIS)--Occidental Chemical (OxyChem) and Mexichem formally announced on Thursday the formation of their 50:50 joint venture, Ingleside Ethylene, to build their planned ethane cracker in Texas.
All of the permits are in hand for the 1.2bn lb/year (544,000 tonnes/year) ethylene facility that will be built at OxyChem's facility in Ingleside, he said.
The facility should be commercially operational in 2017, the CEO said.
The project has been said to cost more than $1bn (€730m).
The ethylene produced will be used as feedstock for an existing vinyl chloride monomer (VCM) plant at Ingleside. OxyChem will sell the VCM to Mexichem, which would use it to produce polyvinyl chloride (PVC) in Mexico.
Last year, the two companies had signed a memoradum of understanding to evaluate the project.
($1 = €0.73)
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