Dow aims to add $3 bln to core earnings by 2030 with new net-zero unit

The Dow Chemical logo is displayed on a board above the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S. on December 22, 2015. REUTERS/Lucas Jackson/Filesunveiled on Wednesday plans to boost its core earnings by $3 billion a year over the next decade, with investments that include building a new net-zero carbon emissions ethylene and derivatives facility in Alberta, Canada.

Calling the new project a "no-regrets" move, Dow's Chief Executive Officer Jim Fitterling said he expects the facility to deliver about $1 billion of additional earnings before interest, tax, depreciation and amortization per year by 2030. The new facility would more than triple Dow's ethylene and polyethylene capacity from its Fort Saskatchewan, Alberta site, and the company expects to allocate about $1 billion of capital spending annually for the project.

It also signed eight new renewable power purchase agreements to reduce Scope 2 emissions, or emissions from the power a company uses for its operations, by more than 600,000 metric tons of carbon dioxide equivalent per year.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Dow jumps more than 300 points as stocks reboundStocks staged a rebound Tuesday, rallying across the board as Wall Street bounced back from a sell-off at the start of the week. nice 🇪🇹 1000s civilians in Amhara and Afar region massacred by TPLFTerroristGroup MaikadraMassacre AgamsaMassacre ChenaMassacre GalicomaMassacre KoboMassacre FMCastaldo ZovkoEU guetta_en k_langensiepen chrismes Mariearenaps michaelgahler tomastobe davidmcallister
Source: CNN - 🏆 4. / 95 Read more »

Dow sheds 400 points as investors ditch technology stocks, Nasdaq drops 2.5%Tesla bucked the trend after the company said this weekend that it delivered 241,300 electric vehicles during the third quarter, well above analysts estimates. AMC CitadelScandal KenGriffinToJail VladTenevLied VladTenevToJail HoldTheMarketAccountable KenGriffinLied BanPFOF GaryGenslerWhatchaGonnaDo ChokeOnThat Joe now owns what happens to the stock market. 10/1 Facebook not that big of a deal
Source: CNBC - 🏆 12. / 72 Read more »

Dow sinks over 400 points, wiping out Tuesday's rebound as stock market renews stumble lower on WednesdayThe stock market resumed a trend lower on Wednesday, with the Dow industrials set to erase of its gains from Tuesday and then some as selling in energy and...
Source: MarketWatch - 🏆 3. / 97 Read more »