QatarEnergy and Chevron Phillips Chemical Company (CPChem) have announced the groundbreaking of a world-scale petrochemical facility in the US.
The $8.5 billion Golden Triangle Polymers Plant, located about 180 kilometres east of Houston, Texas, will include an ethylene cracker unit with a 2.08 million tonnes per annum capacity and two high-density polyethylene units with a combined capacity of 2 million tonnes per annum.
The plant is slated to start operations in 2026.
QatarEnergy holds 49 percent equity in Golden Triangle Polymers, while CPChem owns 51 percent.
The state-run oil company previously invested more than $11 billion in the Golden Pass LNG production and export facility in Sabine Pass, Texas.
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(Writing by D Madhura; Editing by Anoop Menon)