Chevron Phillips Chemical Company LP has announced the official start of the second stage of its $6 billion investment in its U.S. Gulf Coast Petrochemicals Project. The groundbreaking ceremony took place on June 17 and by the time construction is completed the area near the Phillips 66 Sweeny Refinery will host two polyethylene units, with a capacity of 500,000 metric tons of plastic resin per year, the company said.

According to a statement released by Chevron Phillips Chemical, the plastic resin produced at the complex will be suitable for a wide range of applications, including innovative flexible packaging, plastic piping, bottles and merchandise bags. Work on the complex will also include the installation of 45 miles of railroad track that will facilitate transportation of the production. The complex is expected to create over 400 long-term direct jobs and approximately 10,000 jobs in engineering and construction.

Peter Cella, president and chief executive officer of Chevron Phillips Chemical, commented that the "mega project" would enable the company to meet the needs of its customers all over the world. He stated that the realization of the project was possible thanks to developments in technology, including those in drilling, and Chevron Phillips Chemical's own polyethylene resins.

The first stage of the investment started in early April, when Chevron Phillips Chemical broke ground for its ethylene cracker facility at the Cedar Bayou Plant in Baytown, Texas.