20billion to build biggest chemical plant in the world

[ensho]

http://finance.yahoo.com/news/Dow-Saudi-oil-company-sign-apf-2082591865.html?x=0


Dow, Saudi oil company sign accord for $20B plant


Dow Chemical Co. and the Saudi Arabian Oil Co. said Saturday that they signed an agreement that advances their plan to build one of the world's biggest chemical plants in Saudi Arabia. The $20 billion complex is expected to begin production in 2015.

The two companies agreed to a joint venture for Sadara Chemical Co., which will own the plant being built in the desert kingdom. The companies estimate it will generate about $10 billion in revenue annually within a few years of operation.

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It will make chemicals and plastics for the energy, transportation and consumer products industries. The companies are looking to sell the products in fast-growing markets such as China, the Middle East, Eastern Europe and Africa. Once completed, the complex will have capacity to produce 3.3 million tons a year of chemical products for use in an array of items including auto parts and food packaging.

-snip-

Dow, based in Midland, Mich., will have access to Saudi Arabia's relatively cheap hydrocarbons, which will be used to make chemicals at the plant. The company has adopted a strategy of moving away from its basic plastics business and toward specialty materials used in consumer electronics and other products.

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just what the world needs - another toxic wasteland

where are they getting the water for this?

[cutlassmama]

1. think of all the US citizens (the water belongs to) that are hungry and/or homeless

that this money could have benefited.

[snappyturtle]

2. Why isn't it being built in the USA? Well, we all know what the answer is.

Consequently, Dow's end products should be taxed heavily upon entry to the USA via China or other parts of the Far East where the end products will ultimately be made.