Houston-based Ascend Performance Materials Texas will build a $1.2 billion propane production plant in Alvin, Gov. Rick Perry said in a statement.
The state is providing $1 million to the company through the Texas Enterprise Fund. The state money is dependent on a local incentive package being approved, the statement said.
The facility will create 100 jobs.
“Ascend’s new facility in Brazoria County, with more than a billion dollars worth of capital investment and the creation of 100 new jobs, further strengthens the Gulf Coast’s economy and chemical production industry,” Perry said in a statement.
The plant will focus on propane dehydrogenation, which is a method of producing propylene, a common chemical building block for plastic and synthetic fiber products.
“This project builds on the existing strength of the Ascend position as a global leader in the chemicals and nylon businesses,” Tim Strehl, Ascend’s president said in a statement.