Chevron Corp. To Build $1.4 Billion Mississippi Lubricants Plant

By San Francisco Business Times

Chevron Corp. will build a $1.4 billion lubricants plant at Pascagoula, Miss., on the Gulf of Mexico where it already has a big refinery.

San Ramon-based Chevron (NYSE: CVX) guesses the construction of the plant will create about 1,000 jobs. When the facility is finished at the end of 2013, about 20 permanent jobs will be created to operate it.

This facility will create 25,000 barrels per day of premium base oil, which is the main component of high quality motor oil and which is also used in industrial lubricants. This new facility will roughly double Chevronâ¿¿s capacity for making the stuff.

Now, Chevron makes premium base oil in Richmond and in Yeosu, Korea, where it has a joint venture facility.

Tom Kovar is general manager of Chevronâ¿¿s refinery in Pascagoula.

Copyright 2011 American City Business Journals

http://www.bizjournals.com/sanfrancisco/news/2011/01/31/chevron-corp-to-build.html?ana=thestreet

Copyright bizjournals.com 2010

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