LyondellBasell Industries is considering building a new chemical plant that would cost $2 billion, the Houston Chronicle reported on Wednesday.
A decision to build a new plant that would provide chemicals and propylene for growing markets is a year away, Lyondell Chief Executive Bob Patel said, according to the report.
Lyondell did not immediately reply to a request for comment.
“It’ll take us a good part of about 12 months before we get to the point where we make a final decision,” Patel said, according to the report. “But, yes, PDH (propane dehydrogenation) and polypropylene is the next project. It’ll likely be somewhere along the Gulf Coast.”
Lyondell has a plastics plant under construction in LaPorte, Texas, and is getting underway with building a $2.4 billion complex in Pasadena and Channelview, Texas, according to the Chronicle.
The company is scheduled to report third-quarter earnings on Friday.
By Erwin Seba
Source: Reuters
The European Union said Monday that it has approved Agrofert Group’s acquisition of Borealis AG’s nitrogen business after concluding that the deal wouldn’t raise competition concerns. Agrofert is a Czech conglomerate, while Austrian chemical and fertilizer company Borealis is 75%-owned by OMV AG with the remaining 25% held by Abu Dhabi National Oil Co.
LyondellBasell Industries N.V. and Mepol Group announced they have entered into a definitive agreement for LyondellBasell to acquire Mepol Group, a manufacturer of recycled, high-performing technical compounds located in Italy and Poland.
Univar Solutions Inc and Apollo announced that funds managed by affiliates of Apollo have entered into a definitive merger agreement to acquire the Company in an all-cash transaction that values the Company at an enterprise value of approximately $8.1 billion.
