05-09-2019
LyondellBasell announces agreement for expansion in China
LyondellBasell, one of the largest plastics, chemicals and refining companies in the world today announced it has signed a Memorandum of Understanding (MoU) to expand in China through a Joint Venture (JV) with the Liaoning Bora Enterprise Group (Bora).
“China is the largest, fastest growing market in the world for our core products,” said Bob Patel, CEO of LyondellBasell. “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.”
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.
News Category:
-
Beyond processbook & PI vision: Exploring today’s industrial analytics tools
(Webinar) - In the Manufacturing 4.0 era, industrial organizations have more data at their fingertips than ever, offering the promise of higher production rates, more ...
04-06-2024
-
Sasol provides state of the art catalysts to INERATEC for the production of sustainable e-fuels
The catalysts will be used, among others, in the first large-scale industrial Power-to-Liquid (PtL) plant that INERATEC is currently building in Frankfurt, Germany, which ...
24-04-2024
-
Baker Hughes to supply 17 centrifugal compressors to Saudi Master Gas System project
Baker Hughes, an energy technology company, announced Tuesday that it has received an order by Worley, for and on behalf of Aramco, to supply gas technology equipment ...
23-04-2024
-
SABIC Fujian Petrochemicals select Phenol yechnology from KBR
KBR announced today it has been awarded a contract by SABIC Fujian Petrochemicals to license KBR's market-leading phenol technology in China. Under the terms of the ...
22-04-2024
-
Lummus Expands R&D capabilities to enhance innovation and water and wastewater technologies
Lummus Technology, a global provider of process technologies and value-driven energy solutions, announced the opening of its cutting-edge research and development (R&D) ...
17-04-2024
-
Clariant launches new CATOFIN® 312 propane dehydrogenation catalyst
Clariant, a sustainability-focused specialty chemical company, today announced the launch of CATOFIN 312, its latest propane dehydrogenation catalyst. The new catalyst ...
16-04-2024
-
Yokogawa and GridBeyond conclude investment and strategic partnership agreements
Yokogawa Electric Corporation and energy IT solutions provider GridBeyond of Ireland announce that they have concluded a strategic partnership agreement. Furthermore, ...
16-04-2024
-
Heraeus Precious Metals launches Circlear
Heraeus Precious Metals, a globally leading company in the precious metals industry and one of the largest recyclers of precious metals, has introduced its new offering ...
16-04-2024
-
EMA and JERA to cooperate on LNG procurement and supply chains
The Energy Market Authority and JERA Co Inc, have signed a Memorandum of Understanding to cooperate on mutually beneficial areas in liquefied natural gas procurement ...
16-04-2024
-
Hexagon and Dragos unveil technical partnership to strengthen industrial cybersecurity
Hexagon’s Asset Lifecycle Intelligence division today announced a strategic partnership with Dragos, a global leader in cybersecurity for operational technology (OT). ...
16-04-2024