ExxonMobil plans $20 bn investment to expand manufacturing in US

Exxon Mobil Corporation will invest $ 20 billion for expanding its manufacturing capacity along the US Gulf Coast over a 10-year period to take advantage of the American energy revolution.

Darren Woods, chairman and chief executive officer, ExxonMobil, stated, “The US is a leading producer of oil and natural gas, which is incentivising US manufacturing to invest and grow. We are using new, abundant domestic energy supplies to provide products to the world at a competitive advantage resulting from lower costs and abundant raw materials. In this way, an upstream technology breakthrough has led to a downstream manufacturing renaissance.” 

The projects, at