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Mexichem’s JV cracker with OxyChem 80% complete, online at end of year
HOUSTON, April 28, 2016 (PCW) -- Mexichem on Thursday announced its joint-venture ethane cracker with OxyChem is about 80% complete and is expected to begin service by the end of the year.
Full production rates at the Ingleside, Texas, plant should be achieved in early 2017, the company said.
The $1.5 billion cracker will have an ethylene capacity of 1.2 billion lb/yr.
Mexichem on Thursday also reported 1Q net income of $51 million, up from the $19 million seen in the same time a year ago. The company attributed the increase to its “diversified business model and the natural hedges it provides, as well as the increasing focus on returns through economies of scale and other efficiencies.” -- Samantha Hartke
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