MEGlobal Oyster Creek is considered EQUATE Group’s first manufacturing facility in the United States that will include access to shipping routes to customers worldwide, a press release on Monday concluded.
With a nameplate capacity of 750,000 metric-tons-annually (MTa) of ethylene glycol and, the new plant will be operated by MEGlobal Americas Inc., a subsidiary of EQUATE Petrochemical Company.
This new facility will produce monoethylene and diethylene glycol, as well as products used in a number of market applications such as polyester fibers, polyethylene terephthalate (PET) bottles and packaging, antifreeze and coolants, paints, resins, deicing fluids, heat transfer fluids, and construction materials.
President and CEO of EQUATE, Dr. Ramesh Ramachandran, said: “From safety to schedule to cost control, the MEGlobal Oyster Creek Site epitomises our commitment to operational excellence and efficiency in order to serve the growing customer need for EG across the globe.”
MEGlobal Oyster Creek is the first major investment by a Kuwait-based company on the US Gulf Coast, according to the press release.
This entity was created based on the partnership between Petrochemical Industries Company in Kuwait (PIC) and the US partner, Dow Inc., a relationship led to the formation of the EQUATE Petrochemical Company.
Furthermore, EQUATE is a joint venture between Dow and PIC with a stake of 42.5% each as well as Boubyan Petrochemicals Co. and Qurain Petrochemical Industries Co. with 9% and 6% of ownership, respectively.
“The new Oyster Creek MEGlobal plant is an expansion of the Company’s ethylene glycol business in order to meet fast-growing global demand. It greatly enhances our global presence and falls under our continuous plans to maximise value as a leading ethylene glycol producer and supplier,” EQUATE’s executive vice president, Naser Al Dousari, commented.
The MEGlobal Oyster Creek plant has licensed Dow’s METEOR™ technology for its processes, developing several milestones in its construction, including over 3.5 million consecutive safe work hours.
“It created 55 new full-time and 25-35 contract jobs. It employed almost 2,000 construction workers during project’s peak and will contribute approximately $24 million per year to the local economy,” the press release added.