Mexico's Mexichem launches ethylene venture with Oxychem
MEXICO CITY Oct 31 (Reuters) - Chemicals maker Mexichem on Thursday announced a joint venture with U.S. Occidental Chemical Corp, known as Oxychem, to build a $1.5 billion ethylene plant in the United States.
The plant, which will be built in Ingleside, Texas, should start operating in 2017, Mexichem executives said at a press conference.
Mexichem first announced it was considering building a Texas-based facility with Oxychem last year.
Mexichem earlier this week reported a third-quarter loss, hurt by restructuring charges and lower prices for its cooling gases.
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