ExxonMobil is to proceed with a $2 billion investment to expand its Baytown, Texas chemical plant, which will create approximately 2,000 jobs during construction and contribute to the approximate 15 percent return the company expects from its chemical investments.
The Baytown expansion is in addition to the company’s 2017 Growing the Gulf initiative, which outlined plans to build and expand manufacturing facilities along the U.S. Gulf Coast, creating more than 45,000 high-paying jobs across the region.
“Our substantial investments in the United States support ExxonMobil’s long-term growth plans and will result in thousands more high-paying jobs,” said Darren W. Woods, ExxonMobil chairman and chief executive officer. “Through the billions of dollars that we’re investing in the Permian Basin to increase oil production and the expansion at our operations along the Gulf Coast, our company is making significant, lasting contributions to the U.S. economy and the many communities where we operate.”
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