Replies to post #1896 on Exxon Mobil Corporation (XOM)

[eFinanceMarkets]

Exxon, SABIC eye petrochemical project on U.S. Gulf coast

Exxon Mobil (XOM +0.2%) announces plans to join with Saudi Basic Industries Corp. for the potential development of a petrochemical complex on the Texas Gulf coast.

XOM says the proposed multi-billion dollar investment would include an ethane steam cracker capable of producing 1.8M metric tons/year of ethylene, which would feed a monoethylene glycol unit and two polyethylene units.

SABIC says the companies are carrying out further studies, including technical and commercial estimations, before making an investment decision sometime next year.