Chevron Phillips, QatarEnergy to Build $8.5 Billion Polymers Facility
November 16 2022 - 9:53AM
Dow Jones News
By Dean Seal
Chevron Phillips Chemical Company LLC and QatarEnergy have
partnered to construct an $8.5 billion integrated polymers facility
in Texas that is expected to create more than 500 full-time
jobs.
Chevron Phillips, which is jointly owned by Chevron Corp. and
Phillips 66, and QatarEnergy have formed a joint venture company,
Golden Triangle Polymers Company LLC, to carry out their plans for
a new facility in Orange, Texas.
Construction of the new plant will begin immediately near
Chevron Phillips' existing facility in Orange, with operations
expected to begin in 2026.
Chevron will hold a 51% stake in the new venture while
QatarEnergy, Qatar's state-owned petroleum company, will own the
rest.
The companies said they have been collaborating for more than 20
years on assets they operate jointly in Qatar.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
November 16, 2022 09:38 ET (14:38 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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