Posted on 08/12/2015 6:25:03 AM PDT by thackney
Yuhuang Chemical Inc., the Houston-based North American subsidiary of China-based Shandong Yuhuang Chemical Co. Ltd., has added 55 jobs to its corporate office in Houston and will continue to add more to support the development of its $1.85 billion methanol production complex in Louisiana.
Yuhuang Chemical announced on Aug. 10 that it reached an agreement to transport gas on the Transcontinental Gas Pipe Line, owned by Tulsa, Oklahoma-based Williams Cos. Inc. (NYSE: WMB), to serve the methanol complex.
In addition to serving Yuhuang chemical, the Transco pipeline system also serves the Sabine Pass liquefaction project under development by Houston-based Cheniere Energy Inc. (NYSEMKT: LNG).
"When our YCI project was announced in 2014, we had less than five employees working with our team. Since then, YCI has built a team of 60 employees and contractors working in the Houston area. As we continue to work on the construction of our first manufacturing facility in Louisiana, additional jobs will be added to our team in Houston," the company said in a statement emailed to the Houston Business Journal.
Yuhuang's agreement with Transco provides 20 years of transportation capacity for the methanol plant, which will begin construction in the fourth quarter of this year in St. James Parish, according to a press release from Yuhuang announcing the deal with Transco.
Yuhuang's parent company, Shandong Yuhuang Chemical, is a group of companies with total fixed assets of $5 billion and more than 5,600 employees, according to the press release.
On one hand I want a job.
On the other hand I won’t work for chicoms.
More jobs in the area create more demand for workers. They are not the only one building or expanding petrochem plants in the area.
Gulf Coast Petrochemical Plant Expansions Could Lead to a Worker Shortage
http://www.bennetwork.com/job-news/gulf-coast-petrochemical-plant-expansions-could-lead-to-a-worker-shortage/
March 31, 2015
Houston’s thriving petrochemical industry will be responsible for creating around 19,000 jobs each year through 2017.
Those jobs will be added directly at petrochemical plants and indirectly through commercial and industrial construction, according to a report by JP Morgan Chase & Co.
Petrochemical manufacturing plants make chemical products that are derived from petroleum. Those products are used to make everyday products such as plastic food packaging, water pipes, and even diapers.
While oil prices decline, the petrochemical industry actually benefits because raw material costs are low. Greater access to lower-priced raw materials, as well as growing demand for products and transportation expansion is helping drive growth in the petrochemical industry.
There are about 120 petrochemical facilities in the Houston Port Region and $80 billion in new projects and expansions are in the works. Among the new projects is an estimated $6 billion expansion at ExxonMobil’s Baytown plant. Meanwhile, Chevron Phillips has its own $6 billion plant expansion underway in Baytown. The Exxon plant expansion alone is creating a total of 10,000 construction jobs and is projected to add 4,000 new, permanent local jobs, including 350 positions at the plant. Jobs available at plants like these range from truck drivers and plumbers to construction managers and inspectors, welders, crane operators and instrument techs.
Two words: capital flight
Arriving here due to our lower feedstock prices.
That’s part of it, but Chinese companies are also desperate to get their money our of China.
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