Enterprise Products planning new $5B steam cracker in Texas – S&P Global Platts

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Enterprise Products Partners (NYSE:EPD) plans to build a $5B steam cracker in southeast Texas, S&P Global Platts reported Wednesday, citing documents posted by the Texas Comptroller’s Office.

Enterprise (EPD) wants to build the steam cracker, which could process 2M metric tons/year of ethane and propane, at its marine site in Beaumont along the Neches River, according to the report.

The company does not own the land at the proposed site, and would buy or lease it if the project is approved, the documents reportedly said.

Enterprise Products Partners (EPD) is a “recession resistant midstream” that also boasts a 6.6% yield, The Asian Investor writes in a bullish analysis posted recently on Seeking Alpha.

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