Idemitsu Kosan, Mitsui terminate plans US linear alpha olefins JV

Idemitsu Kosan, Mitsui terminate plans for US linear alpha olefins JV

6:34 AM, 5th May 2014
Idemitsu Kosan business news

MIDLAND, US: Idemitsu Kosan Co Ltd, and Mitsui & Co Ltd decided to not move forward with their proposed joint venture to construct a linear alpha olefins unit on the US Gulf Coast. Accordingly, The Dow Chemical Company has terminated the initial arrangement among the three companies.

Dow’s strategic growth investments on the US Gulf Coast remain on track. The Company is evaluating several high-return, alternative uses for the ethylene that was included in this arrangement. Further, Dow will continue to access its existing supply network of linear alpha olefins. Collectively, the Company’s US Gulf Coast projects are expected to contribute more than $2.5 billion in EBITDA once fully operational.

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