LyondellBasell, Bora sign MoU China expansion

LyondellBasell, Bora sign MoU for China expansion

7:37 AM, 6th September 2019
LyondellBasell logo

ROTTERDAM, NETHERLANDS/HONG KONG, CHINA: LyondellBasell has signed a memorandum of understanding (MoU) to expand in China through a Joint Venture (JV) with the Liaoning Bora Enterprise Group (Bora).

This project will utilize LyondellBasell technologies and significantly expand the company’s participation in the rapidly growing Chinese olefins & polyolefins. According to IHS Markit, China makes up more than 60 percent of the Asian chemicals market and represents 40 percent of global chemicals growth over the next decade. Olefins and polyolefins are core products for LyondellBasell.

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

Under the MoU, Bora and Lyondellbasell will form a 50 / 50 joint venture in Panjin, China. The JV will operate a 1.1 million ton ethylene cracker which will produce olefins & polyolefins used in all manner of construction and consumer products including, but not limited to, pipe, durable plastic containers, petroleum fuel tanks and agricultural films. The polyolefin products produced at the complex will be marketed by LyondellBasell.

When complete, the plant will employ LyondellBasell’s Hostalen ACP polyethylene technology and both Spheripol and Spherizone polypropylene technologies. Bora began construction of the state-of-the-art facility in 2019.

“China is the largest, fastest growing market in the world for our core products. The formation of this JV with a well-respected Chinese company allows us to increase our flexibility to produce these products closer to the customer. We see tremendous opportunity to create additional value and potentially grow further in this very important market,” said Bob Patel, CEO of LyondellBasell.

© Worldofchemicals News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Mexichem changes name to Orbia

BOSTON, US: Mexichem S. A.B. de C.V, a global leader in specialty products and innovative solutions, has reached next milestone by unveiling its new c ...

Read more
Total appoints new chief financial officer

PARIS, FRANCE: Total SA has appointed two new members to its executive committee. Jean-Pierre Sbraire is appointed as new chief financial officer foll ...

Read more
Lindsay Goldberg to buy pharma packaging maker Bilcare Research: Sources

FRANKFURT, GERMANY: Private equity investor Lindsay Goldberg has agreed to buy Bilcare Research, in a deal valuing the Swiss pharma packaging group at ...

Read more
Total makes final investment decision on Arctic LNG 2 along with partners

PARIS, FRANCE: Total SA, Novatek and other shareholders have approved the final investment decision (FID) for Arctic LNG 2. Arctic LNG 2 is a major l ...

Read more
Ineos Styrolution introduces new styrene methyl methacrylate materials

LONDON, UK: Ineos Styrolution has introduced new members of its NAS family of SMMA (styrene methyl methacrylate) materials. NAS transparent ...

Read more
AkzoNobel developing scratch-resistant powder coatings

AMSTERDAM, NETHERLANDS: AkzoNobel said that it is developing a scratch-resistant powder coating for the architectural market in both matt and satin fi ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X