Sector News

LyondellBasell in MOU with Bora for China expansion

September 9, 2019
Chemical Value Chain

Chemical and fuel company LyondellBasell Industries said on Thursday it has signed an memorandum of understanding (MOU) to form a joint venture with China’s Bora Enterprise Group to build a chemical complex in northeast China.

LyondellBasell and Bora may invest as much as $12 billion over the next 10 years in a series of petrochemical projects in Liaoning’s Panjin city.

LyondellBasell will take a 50% stake in the chemical projects being built by the Chinese firm, it said.

Among the proposed phase-one investment with a total cost of 18 billion yuan ($2.54 billion) are the production of 800,000 tonnes per year (tpy) of polyethylene, 600,000 tpy polypropylene and 350,000 tpy styrene.

LyondellBasell currently operates three polypropylene compounding facilities in China located in Guangzhou, Suzhou and Dalian.

By Chen Aizhu

Source: Reuters

comments closed

Related News

November 28, 2021

Synthomer appoints new CFO

Chemical Value Chain

Synthomer announced the appointment of Lily Liu as Chief Financial Officer (CFO). Lily will take up the role no later than 1 July 2022, succeeding Steve Bennett who announced in August 2021 that he would step down once a suitable successor was in place.

November 28, 2021

Westlake to acquire Hexion’s epoxy business for $1.2 billion

Chemical Value Chain

Westlake Chemical (Houston, Texas) has reached agreement to acquire Hexion’s (Columbus, Ohio) epoxy business for approximately $1.2 billion. Westlake says the deal enhances chlorine and olefins integration and brings attractive opportunities in high-growth epoxy markets, including wind turbine blades, automotive lightweighting, aerospace and consumer coating applications.

November 28, 2021

Tetra Pak and Appetite Creative drive brand-consumer engagement with gamified carton experiences

Chemical Value Chain

Tetra Pak Iberia is launching a gamified app experience in partnership with digital studio Appetite Creative. The technology is enabled though scannable QR codes printed on drinking cartons and available to all brands in Southern Europe.

Send this to a friend