LYB Enters into Agreement to Acquire 35% of Saudi Arabia-based NATPET; Expands Core PP Business
Summary
Alujain and LYB are also assessing together potential construction of a new propylene via propane dehydrogenation (PDH) and PP facility at the NATPET site, subject to a final investment decision. "This investment in NATPET reflects our strategy of growing and upgrading our core around assets and businesses with lasting advantages," said LYB CEO Peter Vanacker. "We are pleased to invest in this joint venture, which leverages LYBs technology, leading global market positions and Alujains proven operational excellence. As one of the worlds largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare. For more information, please visit www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.About Alujain CorporationAlujain Corporation was established in 1991 with a view to adding value to Saudi Arabias natural hydrocarbon and mineral resources.