Mitsubishi Chemical Asahi Kasei joint venture in Mizushima

Mitsubishi Chemical and Asahi Kasei joint venture in Mizushima

3:37 PM, 9th June 2011
Mitsubishi Chemical and Asahi Kasei joint venture in Mizushima

Start-up of a new LLP for unified naphtha cracker operations in Mizushima.

 

TOKYO, JAPAN: Mitsubishi Chemical and Asahi Kasei Corp have decided to establish a limited liability partnership (LLP) for the integrated and unified management of their naphtha cracker operations in Mizushima, Japan, as previously announced on May 31, 2010. With the start-up of unified management by this newly established LLP in April 2011, Mitsubishi Chemical and Asahi Kasei will implement a co-ordinated rationalization of operations for increased efficiency based on an optimized configuration, responding swiftly to changes in the operating climate for the Japanese petrochemical industry. The parties will also make every effort to further strengthen the Mizushima industrial zone including through alliances with oil refineries.

 

The new LLP, named Nishi Nippon Ethylene LLP, headquartered in Tokyo, Japan will have a paid-in capital of ¥ 80 million. The operations will include unified management of the naphtha crackers of Mitsubishi Chemical and Asahi Kasei Chemicals in the Mizushima industrial zone, procurement of feedstocks including naphtha, production of basic petrochemicals including ethylene and sales of basic petrochemicals and utilities to both the companies.

(C) WOC News 

 

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