The leading chemical and refining company 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.
The new JV Bora LyondellBasell Petrochemical company will produce products that serve the growing demands of various industries in China, including packaging, transportation, building and construction, and healthcare & hygiene. The new JV will be operational in the second half of 2020.
In 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.
In June 2019, LyondellBasell and Neste, the world’s largest producer of renewable diesel from waste and residues, jointly announce the first parallel production of bio-based polypropylene and bio-based low-density polyethylene at a commercial scale.
LyondellBasell, is a world’s 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.