LYONDELLBASELL
Acquisition of 35% stake in National Petrochemical
By Plasteurope.com staff
Without much delay, LyondellBasell (LYB, Houston, Texas, USA; www.lyondellbasell.com) has completed its takeover of a 35% stake in Saudi firm Natpet (Jeddah; www.natpet.com) from Alujain (Riyadh, Saudi Arabia; www.alujain.sa). The transaction, for which the US group is paying USD 500 mn (EUR 460 mn), was announced in January this year.
Without much delay, LyondellBasell (LYB, Houston, Texas, USA; www.lyondellbasell.com) has completed its takeover of a 35% stake in Saudi firm Natpet (Jeddah; www.natpet.com) from Alujain (Riyadh, Saudi Arabia; www.alujain.sa). The transaction, for which the US group is paying USD 500 mn (EUR 460 mn), was announced in January this year.
 The companies are aiming for more polypropylene from Yanbu (Photo: Natpet) |
Natpet operates a propane dehydrogenation (PdH) unit at Yanbu, Saudi Arabia, with downstream polypropylene production based on LYB technology. Capacities for both are at around 400,000 t/y. The two groups are planning to construct another PdH/PP combination at the site.
03.06.2024 Plasteurope.com [255505-0]
Published on 03.06.2024
German version of this article...