Exxon Mobil and Saudi Basic Industries Corp. (SABIC) have formed a joint venture as part of their plans to build the roughly $7.3-billion Gulf Coast Growth Ventures project, a 1.8-million-ton ethane cracker proposed for San Patricio County, Texas. The project will include a monoethylene glycol unit and two polyethylene units.
The companies have signed engineering, procurement and construction contracts with a Chiyoda-Kiewit joint venture and CTCI McDermott, SABIC said in a May 1 filing with the Saudi Stock Exchange.