Trump plans roads as biggest US asphalt plant shuts
Refiners sceptical that infrastructure expenditure will lead to a rise in demand of asphalt
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Calgary
AXEON Specialty Products LLC is shuttering the US largest asphalt refinery when the country might need it the most.
The Stamford, Connecticut-based company announced last month it plans to close its Paulsboro, New Jersey, refinery, and convert it into a terminal. The planned shutdown comes as President Donald Trump has pledged to build new roads, highways and bridges across the country. The US would need 63 per cent more asphalt than it consumes now just to pave roads at the rate it reached a decade ago, Energy Information Administration data shows.
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