Chevron Phillips Chemical Company LLC and QatarEnergy announced today they are proceeding with the construction of an $8.5 billion integrated polymers facility in Orange, Texas, expected to create more than 500 full-time jobs and about 4,500 construction jobs and generate an estimated $50 billion for the community in residual economic impacts.

The companies have made a positive final investment decision on the project and created a joint venture company, Golden Triangle Polymers Company, named for the Golden Triangle region of Texas that includes the city of Orange. Chevron Phillips Chemical owns a 51 percent equity share in the joint venture and QatarEnergy owns 49 percent.

“The growth and economic impact that a project of this magnitude will have on Orange County and the region is unmatched. We look forward to continuing our efforts with Chevron Phillips Chemical and seeing this project
through to the finish line,” said Megan Layne, executive director of the Orange County Economic Development Corporation.