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Business deals

Chiyoda to build one of world's biggest ethylene plants in US

Plans for $1.3bn facility propelled by rise in shale-related investment

Chiyoda has built ethylene plants around the world, including this one in Saudi Arabia. (Photo courtesy of Jubail United Petrochemical)

TOKYO -- Japanese engineering company Chiyoda has won a contract to build one of the world's largest ethylene plants in the U.S., a project aimed at tapping shale gas reserves there.

The plant, estimated to cost 150 billion yen ($1.35 billion), is a joint project by Exxon Mobil and Saudi Basic Industries Corp., or Sabic. The facility will be situated by the Gulf of Mexico in the state of Texas, with the start of operations targeted for 2022.

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