МОSCOW (MRC) -- LyondellBasell, one of the world's largest plastics, chemical and refining companies, today announced completion of the 800 million pounds-per-year ethylene expansion project at the company's Corpus Christi, Texas, site, said the company on its website.
The project increases ethylene capacity at the facility by 50 percent, from 1.7 billion pounds-per-year to 2.5 billion pounds-per-year, and completes the company's multi-year plan to increase annual ethylene capacity in the U.S. by two billion pounds.
"As we look to meet growing, global demand for our products, we continue to seek the right opportunities that ensure we are well positioned for the longer term," said Bob Patel, LyondellBasell CEO and chairman of the management board. "By expanding ethylene capacity in the U.S. through debottlenecks rather than long and costly greenfield developments, we quickly added substantial capacity for significantly less than the cost of a new plant," he added.
Completion of the Corpus Christi expansion is another milestone in the company's organic profit-generating growth strategy. To date, the company has completed the following expansion projects at its manufacturing sites globally:
2012 - 120 million pounds-per-year combined ethylene/polyethylene increase – Clinton, Iowa and Morris, Ill.
2013 - 155 million pounds-per-year butadiene increase – Wesseling, Germany; 250 million gallons-per-year methanol increase – Channelview, Texas.
2014 - 800 million pounds-per-year ethylene increase – La Porte, Texas; 220 million pounds-per-year polyethylene increase – Matagorda, Texas
2015 - 250 million pounds-per-year ethylene increase – Channelview, Texas.
2016 - 800 million pounds-per-year ethylene increase – Corpus Christi, Texas.
LyondellBasell is one of the world's largest plastics, chemical and refining companies and a member of the S&P 500. LyondellBasell products and technologies are used to make items that improve the quality of life for people around the world including packaging, electronics, automotive parts, home furnishings, construction materials and biofuels.
MRC