ARANSAS PASS, Texas — A proposed billion-dollar plastics facility could be put on hold because of uncertainties in the international energy market.
The facility, known as “Project Falcon,” was set to be build on 3,800 acres of land owned by the Port near Aransas Pass.
Iain Vasey, head of the Corpus Christi Regional Economic Development Corp., couldn’t provide specifics about the deal, but said projects are on hold across the world because of uncertainty in the energy market.
But the Coastal Alliance to Protect the Environment has posted on its Facebook page that plans for the plant, proposed to larger than the current Exxon/SABIC plant, have been withdrawn.
Texas A&M University-Corpus Christi Economics professor Dr. Jim Lee says, "If that happens, we'll be in the headlines of global news. We're talking about two massive, world-class plastic plants in one location, basically.
Meanwhile environmentalists can claim victory. Environmentalist Errol Summerlin says, "It was going to be a drain on our natural resources, it was going to affect public health, climate change, the whole works."
But for deals which are in the work, like this one was, Doctor Lee says there could be an effect depending on the types of industry involved.
We’ll tell you what we know when we learn about it.