Chevron Phillips Chemical Company plans to build a new manufacturing plant to add nearly 600 million pounds of alkenes in the town of Old Ocean, Texas.

In a press release released on May 5, officials from CP Chem in Wodlands, Texas, said the new factory is slated to open in 2023. At its peak, the project is expected to have more than a dozen. 600 construction workers and more than 50 full-time workers.

The new plant will produce 1-hexene monomer, which is used to produce high-performance polyethylene for the production of films and rigid boxes containing food, detergents and pharmaceuticals, among other products.

"As global demand for PE continues to grow, this project demonstrates CP Chem's commitment to grow with customer needs and maintain its position as a leading supplier of 1-hexene," according to the statement. Mitch Eichelberger, executive vice president of polymers and specialty products.

"The town has traditionally been home to many high-value properties, and we are looking forward to becoming an even more important economic driver for the local economy, while expanding our business." to meet the world needs of our current and future customers," he added.

Officials said the new plant ""will leverage the latest advances in process design to maximize production, optimize resource management and reduce emissions." and reduced emissions are both central to the company's sustainability strategy, they added.

CP Chem currently operates two full alpha-olefins and one of the world's largest specialized 1-hexene production plants at Cedar Bayou in Baytown, Texas. Officials say the new plant site will add capacity and flexibility to meet growing customer base demand, while providing room for future growth.

CP Chem is a major supplier of polyethylene and related production materials and chemicals. The company is a 50-50 joint venture between two energy companies, Chevron and Phillips 66. CP Chem has posted 2020 revenue of about $8.3 billion.

Source of HHNVN