FORT STOCKTON -- The purchase of more than 100 acres of land is the latest step in a $450 million refinery project in Pecos County.
It was announced on Monday morning that MMEX Resources Corp. has purchased 126 acres in Pecos County for their Phase I construction of a 50,000 barrels per day refinery.
"The closing of our Phase I land site is a major milestone for the Pecos County refinery project and a catalyst for significant milestones to come, including the filing of environmental permits to authorize construction on our smaller-scale initial refinery. We’re eager to begin construction on this exciting project and start bringing new jobs to the region," said Jack W. Hanks, President and CEO of MMEX Resources Corp.
The land will be used for a 10,000 BPD distillation unit, which will help shorten the permitting timeline of their Pecos County project and allow for construction to begin sooner.
MMEX Resources also plans on purchasing an adjacent 350 acres in the near future for the 50,000 BPD refinery.
The plan for the multi-million dollar refinery was first announced in March. MMEX Resources believes the construction process will create around 400 jobs in the area.