Louisiana loses $10B petrochemical project to Texas
Louisiana economic development chief says the state is not discouraged by ExxonMobil Chemical Co. and Saudi Basic Industries Corp.’s decision to build the “world’s largest” ethane cracker plant in neighboring Texas.
Exxon and its Saudi partner, SABIC, announced today that they have chosen to build the roughly $10 billion, 1,300-acre plastics complex at a site near Corpus Christi.
Today’s decision ended months of speculation about which state would win the project, for which ExxonMobil and SABIC also reportedly considered sites in Ascension and St. James parishes.
“Texas is formidable competition. But so is Louisiana,” Louisiana Economic Development Secretary Don Pierson says in a statement. “We were a strong finalist for this project, and we are very proud of the case we made on behalf of our state. We’re also proud of our record of progress in continuing to attract significant chemical manufacturing projects.”