Dow has decided to delay construction of its Path2Zero project in Fort Saskatchewan, Alberta, Canada until market conditions improve. The decision was taken after a comprehensive review. The company now expects Dow's total enterprise 2025 CapEx to be $2.5 billion compared to its original plan of $3.5 billion.

Dow remains committed to its Path2Zero project and the growth upside it will enable in targeted applications like pressure pipe, wire and cable, and food packaging.

The project is being built at an existing Dow site in a significantly cost-advantaged region. It is expected to be a first quartile asset with attractive returns and the added benefit of being the world's first net-zero Scope 1 and 2 emissions integrated ethylene cracker and derivatives facility.

The Fort Saskatchewan Path2Zero includes building a new ethylene cracker and increasing polyethylene capacity by 2 million MTA as well as retrofitting the site's existing cracker to net-zero Scope 1 and 2 emissions. The investment was expected to deliver $1 billion of EBITDA growth per year at full run rates over the economic cycle while decarbonizing 20% of Dow's global ethylene capacity.