HOUSTON (Reuters) - LyondellBasell Industries (LYB.N) is considering building a new chemical plant that would cost $2 billion, the Houston Chronicle reported on Wednesday.
A decision to build a new plant that would provide chemicals and propylene for growing markets is a year away, Lyondell Chief Executive Bob Patel said, according to the report.
Lyondell did not immediately reply to a request for comment.
“It’ll take us a good part of about 12 months before we get to the point where we make a final decision,” Patel said, according to the report. “But, yes, PDH (propane dehydrogenation) and polypropylene is the next project. It’ll likely be somewhere along the Gulf Coast.”
Lyondell has a plastics plant under construction in LaPorte, Texas, and is getting underway with building a $2.4 billion complex in Pasadena and Channelview, Texas, according to the Chronicle.
The company is scheduled to report third-quarter earnings on Friday.
Reporting by Erwin Seba; Editing by Paul Simao