Huntsman Corp. to spend $110 million on Texas plant

Salt Lake-based Huntsman Corp., the fifth-biggest U.S. chemical maker, plans to spend $110 million to repair its Port Arthur, Texas, plant, which was damaged by a fire in April.

The facility is scheduled to open in the second quarter of 2007, Huntsman said Tuesday in a statement. The company is run from Salt Lake City and Houston.

Shaw Group Inc. will handle engineering and construction.

The plant has an annual production capacity of 1.4 billion pounds of ethylene and 800 million pounds of propylene.

Huntsman stock fell 3 cents to close at $16.93 per share Tuesday on the New York Stock Exchange. In the past year, the price has ranged from $15.62 to $23.69.

Dow Chemical Co. is the largest U.S. chemical maker by 2005 revenue, followed by Exxon Mobil Corp., DuPont Co. and Lydonell Chemical Co.