Polyolefin facility in Liaoning, China will produce materials for the domestic China market
ROTTERDAM, The Netherlands and HONG KONG, Sept. 1, 2020 /PRNewswire/ — LyondellBasell (NYSE: LYB) and China’s Liaoning Bora Enterprise Group (Bora) today announced the establishment and start-up of their new joint venture polyolefin complex in the Liaoning province of northeastern China. First announced in September 2019, the 50:50 joint venture (JV) will operate under the name Bora LyondellBasell Petrochemical Co. Ltd. (BLYB).
“Demand for polyolefins has returned in China after the pandemic-related economic slowdown earlier in the year and the long-term growth trends are very favorable for this project,” said Bob Patel, CEO of LyondellBasell. “Our BLYB joint venture brings together the best of both LyondellBasell and Bora, leveraging the companies’ knowledge and experience to help to meet the growing demand for polyolefin products in China. We look forward to potential future opportunities