Total, partners OK construction of $1B Texas plastics expansion [Seeking Alpha]
MCDERMOTT INTL (MDR)
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Source: Seeking Alpha
Total (NYSE: TOT ) and its joint venture partners announce a final investment decision to move forward with plans to build a $1B, 625K metric tons/year polyethylene unit at the company's existing facility in Bayport, Tex. The expansion, which is expected to be completed in 2021, would raise existing polyethylene production of 400K metric tons/year. TOT already is building a new ethane cracker plant in Port Arthur, Tex., which processes ethane into ethylene, the primary building block of most plastics; the ethylene would then be piped to Bayport to be manufactured into plastics. McDermott (NYSE: MDR ) - the engineering, procurement and construction contractor on the Port Arthur project - will lead engineering and construction for the new project. Click to subscribe to real-time analytics on MDR Now read: McDermott: Shares Likely To See Significant Gains » Subscribe for full text news in your inbox
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