The project has attracted investors from California and could create about 200 jobs.
CORPUS CHRISTI, Texas — A longtime San Patricio County farmer is preparing to make a major change to his land, selling part of his farmland for a $1.2 billion refinery project that developers say could become one of the first new oil refineries built in the United States in more than 50 years.
Bobby Nedbalek has spent decades farming cotton in the area. Now, he is preparing to become a partner in an industrial project expected to bring hundreds of jobs and significant investment to the region.
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“It’s better to grow a refinery than it is to grow cotton,” Nedbalek joked.
The CCR refinery is planned for about 150 acres of farmland just south of Taft along Highway 631. The site is about three miles from Taft and eight miles from Portland.
Construction is expected to begin in October.
But developers say the facility will be different from some of the major refineries already operating along the Texas coast.
David Luetchford, P.E., with CCR Refinery, said the plant is being designed specifically to process a very light, sweet crude oil rather than the heavier crude processed by larger conversion refineries.
“Those refineries are designed for medium and heavy oils, Citgo and Flint Hills,” Luetchford said. “Those refineries are called conversion refineries. They are quite sophisticated. We have chosen to design our oil around West Texas Intermediate crude oil. It’s a very sweet crude.”
The project has been years in the making, with developers holding community meetings as they worked toward getting the refinery planned and permitted.
Now, developers say the project has reached another major milestone.
Luetchford said financing has been secured through a financial institution based in San Francisco, California, and that investors have committed to provide 100% of the financing for the refinery.
“It’s the first refinery in the United States for over 50 years and that’s intrigued the investors very much so as such, they have proceeded now to give us confirmation,” Luetchford said. “They are going to provide 100% financing for this refinery.”
Nedbalek said he believes the project could provide a major economic boost for Taft and the surrounding area.
“This is going to be great for Taft,” Nedbalek said. “And I really appreciate the opportunity Taft has to participate in this in a number of different economic levels.”
The refinery still needs additional permits from the Texas Commission on Environmental Quality.
If the project stays on schedule, construction is expected to be completed by 2030.
Developers say the completed refinery would employ about 200 people.