The a global integrated chemicals and energy company Sasol and leading plastics and chemicals manufacturer LyondellBasell announced the closing of their Louisiana-based Integrated Polyethylene Joint Venture (JV) transaction.
- The 50/50 JV includes a 1.5 MM ton ethane cracker, 0.9 MM ton low-density and linear-low density polyethylene plants, and associated infrastructure near Lake Charles, La, and will toll manufacture the products on behalf of the two shareholders.
- As per agreement, LyondellBasell will operate the three assets on behalf of the JV and market the polyethylene products on behalf of the two shareholders of the JV.
The prominent deals and JVs of LyondellBasell are mentioned below:
Oct 2020: The leading chemical company LyondellBasell announced to acquire 50 percent of Sasol’s 1.5 MM ton ethane cracker, 0.9 MM ton low and linear-low density polyethylene plants and associated infrastructure for approximately $2 Billion.
Sep 2020: LyondellBasell announced the successful start-up of its MoReTec molecular recycling facility at its Ferrara, Italy, site. The new facility can be used for food packaging and healthcare items.
March 2020: LyondellBasell has announced an expansion in China with a 50:50 joint venture with Liaoning Bora Enterprise Group (Bora). As per MoU signed, the partners will form a Sino-foreign joint venture, the Bora LyondellBasell Petrochemical company. The JV will operate a 1.1 million metric tons per annum ethylene cracker and associated polyolefin derivatives complex in Panjin, China, with a total expected cost of approximately $2.6 billion.
December 2019: LyondellBasell announced that it has signed a Memorandum of Understanding (MoU) to form a 50:50 joint venture (JV) with China Petroleum & Chemical Corporation (Sinopec), one of the largest integrated energy and chemical companies in China. LyondellBasell operates five wholly-owned facilities in China which are located in Guangzhou, Suzhou, Dalian, Dongguan and Changshu.
LyondellBasell, is a worlds leading plastic, chemical and refining company, headquartered in Rotterdam, Netherlands. The company provides lightweight and flexible packaging, stronger and more versatile pipes and is involved in improving the safety, comfort and fuel efficiency of many of the cars and trucks on the road. The company sells products into approximately 100 countries and is the world’s largest producer of polymer compounds and the largest licensor of polyolefin technologies. LyondellBasell is a global producer of polypropylene and polyethylene technologies with more than 280 polyolefin process licenses globally.