Permico’s Plan For Corpus NGL Production

November 5, 2018

 

A Permico Energia LLC subsidiary is planning an $825 million investment in the Corpus Christi area.

Permico Midstream Partners LLC has applied for Texas Chapter 313 tax incentives for a 10-year limitation on taxable property value for school district maintenance and operations tax purposes.

The Houston-based company plans three natural gas liquids fractionation trains in Nueces County with the goal of producing NGLs, with two trains operable by 2020 and a third train to be running by mid-2024.

The tax incentive is based on job creation, with Permico saying each train will employ nearly 250 people during the construction phase.