ExxonMobil has long planned to increase its PE resin production capacity in the Gulf Coast region of the United States. Now, its capacity expansion is further increased.

On November 14, the company announced that its PE plant in Beaumont, Texas, would increase its annual capacity by 14 billion pounds.

ExxonMobil executives said at a press conference that the new capacity will be used to meet the growing market demand for high-performance plastics. New production units have been put into construction and are expected to start in 2019.

ExxonMobil's Beaumont, Texas plant will open two new PE production lines in 2017, with a total capacity of 3 billion pounds per year. The company also plans to work with SABIC to build another steam cracking and derivatives plant in the Gulf Coast region.

ExxonMobil's investment in the Gulf Coast region will not be limited to expansion of existing refining and chemical plants, but will also stimulate economic growth and create jobs, executives said. The current project will create more than 1200 long-term jobs and more than 28000 temporary jobs during the construction period.

"Thanks to the price advantage of us shale gas and other liquid raw materials, we are able to expand our capacity to meet the strong growth of global demand for PE." Cindy Shulman, vice president of ExxonMobil's plastics and resins business.

At the same time, this multi billion dollar investment will increase the company's PE capacity in the United States by 40% (nearly 4.5 billion pounds / year), and make Texas the largest PE supply point of ExxonMobil.