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
Corteva (Indianapolis, Indiana) says it has signed a definitive agreement to acquire Stoller Group (Houston, Texas), a producer of biostimulants and plant nutrition products, for $1.2 billion. Stoller is one of the largest independent biologicals companies globally, with operations in more than 60 countries and more than $400 million in annual sales.
OMV has announced its new corporate structure today, designed to fully enable the delivery of Strategy 2030. The new organization will be built on five distinct areas. In addition to the CEO and CFO areas, three business segments will be established: Chemicals & Materials, Fuels & Feedstock, and Energy.
The European petchem sector is readying for some tough quarters. It’s a different picture in the US. So is this the best time ever to find a new role in the chemical industry? If you are in Europe, you would expect me to say probably not. But actually, it depends. So let me give you four answers to this question.