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
The total contract value is approximately €430 million. The project scope of work entails complete engineering services, equipment and material supply, installation and construction activities and, as an optional part of the scope, commissioning and start up.
Once it has implemented this project, Lenzing will have biological wastewater treatment plants that meet the best available techniques (BAT) quality standard at all its production sites.
The debate over the position of hydrogen in the new energy revolution has come to the fore again thanks to Japan’s hosting of the Olympic Games. But rather than showcasing how green this miracle new fuel is, it has highlighted its many problems.
