May 3, 2014 4:02 PM by AP
NEW ORLEANS (AP) - German chemical titan BASF SE is evaluating plans to spend more than $1.4 billion to build a propylene plant somewhere along the Gulf Coast.
Kurt Bock, chairman of the company's board of executive directors, said Friday that a feedstock of cheap natural gas would give BASF a price advantage, and would allow it to stop buying so much of the building block for plastics and chemicals from others.
The world's largest chemical company said the plant would be its single largest investment ever. It didn't give details about where it would build, but chemical makers have flooded into south Louisiana and the Texas coast to take advantage of cheap natural gas. Tens of billions of dollars' worth of projects have been announced in Louisiana, although not all will be built.