Video PlayerClose

HOUSTON, July 21 (Xinhua) -- The Houston petrochemical company LyondellBasell said it will move forward with its most expensive project ever near the Houston Ship Channel that would become the largest factory of its kind in the world.

According to local media reports Friday, the 2.4- billion-U.S.-dollar plant would create some 2,500 construction jobs and 160 permanent positions, representing a continuation of the petrochemical boom along the U.S. coast.

The Houston area today boasts one of the world's greatest concentrations of petrochemical plants. Even the industry's expansion has slowed as projects have been completed, but it continues to attract investment from some of the world's biggest companies.

Houston is the most populous city in the State of Texas and the fourth-most populous city in the United States.