Saudi Basic Industries Corp (SABIC) has begun commissioning activities and preparations of the joint venture (JV) project with Exxon Mobil on the US Gulf Coast.
The project includes the establishment of an ethylene production unit with annual capacity of about 1.8 million tons, which will feed two polyethylene units and a monoethylene glycol unit, the petrochemicals giant said in a bourse filing on Sunday.
The project is expected to have a positive impact on SABIC’s consolidated financial statements. It is likely to appear after the project completion and commercial operation.
The joint-venture petrochemical complex is near Corpus Christi, Texas, is expected to come online in Q4 2021, earlier than 2022 as originally planned.
(Writing by Brinda Darasha; editing by Seban Scaria)
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