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HOUSTON (AP) — Exxon Mobil Corp. says it plans to spend $20 billion over 10 years on refineries, chemical and liquefied natural gas plants along the Gulf Coast.

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Chairman and CEO Darren Woods said Monday that the company would expand current plants and build new ones, mostly designed to create petroleum products for export.

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Woods said the work would create 12,000 permanent jobs — Exxon currently has about 71,000 employees — and 35,000 construction jobs.

The sum of $20 billion would be roughly equal to Exxon’s total capital spending last year. The company announced last week that it plans to increase overall investments to an average of $25 billion a year from 2018 to 2020.

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