Word: guayama
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...Guayama, Puerto Rico...
First Call. The facility's basic plant, the ninth domestic petrochemical operation for fast-growing Phillips, will be erected on 400 acres of sugar-cane fields in Guayama district on Puerto Rico's south shore. Phillips will invest $45 million in the core plant, receive a twelve-year tax forgiveness, get on stream in 21 months. Then the company will reinvest its earnings for ten years (to a total of $55 million) in a string of satellite petrochemical plants on 2,600 surrounding acres. The satellites will be owned jointly by Phillips, other U.S. companies and Puerto Rican...
Angering the Competition. The principal product of the Guayama refinery, however, will be 24,800 bbl. daily of motor fuel for U.S. East Coast markets, in which Phillips is expanding. Since all oil imports are under quota, a presidential proclamation was required to enable Phillips to ship oil products from Venezuela to Puerto Rico. Other oil companies will have to cut their import allotments to accommodate Phillips. Result: the two-year period in which the Interior Department studied the Phillips-Puerto Rican application produced a bitter oil-industry battle...
...Guayama, Puerto Rico...
...Guayama, Porto Rico...