French energy company Total is launching a multi-billion-dollar petrochemical joint venture in Texas as it tries to profit from the “business-friendly environment” under the current U.S. administration.
The plan announced Monday in Paris is the company’s largest-ever investment in petrochemicals, and part of its strategy to benefit from cheap shale gas in the U.S. and President Donald Trump’s support for the energy industry.
Total will partner with chemical companies Borealis and Nova to build two new units on the U.S. Gulf Coast.
