Sector News

LyondellBasell in MOU with Bora for China expansion

September 9, 2019
Chemical Value Chain

Get involved in the discussion! Click here to comment on this story

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

Join the discussion!

Your email address will not be published. Required fields are marked *

Related News

November 22, 2019

Braskem appoints new CEO effective 1 January

Chemical Value Chain

LinkedIn Twitter FacebookBraskem has announced the appointment of Roberto Simões, its current chairman, as the next CEO efffective 1 January 2020. He will succeed Fernando Musa who will continue to […]

November 21, 2019

UK chems should be counted in EU rules of origin quotas post-Brexit – CIA

Chemical Value Chain

LinkedIn Twitter FacebookUK chemicals should continue to be counted in quotas for EU-origin material for finished products post-Brexit or risk being stripped out of supply chains, according to trade group […]

November 21, 2019

BASF, Mitsui, SNF, Shell sign MOUs to build petchems, ammonia, polyacrylamide, catalysts plants in Saudi Arabia

Chemical Value Chain

LinkedIn Twitter FacebookSaudi Arabian General Investment Authority today signed five memoranda of understanding (MOUs), with a combined value of 7.5 billion Saudi riyals ($2 billion), with a number of major […]

Subscribe to our Weekly Newsletter

We're easy to reach