Chevron (CVX.US) bets $5 billion on low-carbon hydrogen ammonia, Texas project closely follows U.S. tax exemption window.

According to the Sina Finance APP, Chevron (CVX.US) recently submitted an application to the relevant departments in Texas, planning to build a large low-carbon hydrogen and ammonia production base with a total investment of $5 billion in Arthur Harbor, and simultaneously applying to participate in the state's federally funded HyVelocity Hub project. According to documents submitted to local governments, the project is scheduled to start construction in 2027 and is expected to officially start commercial operation in 2032, while already applying for support under the real estate tax exemption policy.