LyondellBasell signs Memorandum of Understanding with China Petroleum & Chemical.
International Resource News-December 24, 2019--LyondellBasell signs Memorandum of Understanding with China Petroleum & Chemical
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International Resource News - 24 December 2019
LyondellBasell (NYSE: LYB), a plastics, chemicals and refining company, has signed a Memorandum of Understanding with China Petroleum & Chemical Corporation, an integrated energy and chemical company in China, to establish a 50:50 joint venture.
According to the non-binding Memorandum of Understanding, the joint venture is to build a new propylene oxide and styrene monomer unit in Zhenhai, Ningbo, China to serve that country's domestic market. Once finalised, this joint venture will be based on the present LyondellBasell / Sinopec PO / SM joint venture in the same location, which operates under the name Ningbo...
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