LyondellBasell and Bora form petrochemical joint venture

China is a large market with growing demand for high quality polyolefin products, said Bob Patel, CEO of LyondellBasell. “The combination of LyondellBasell's leading technology and Bora's operational excellence will allow us to reliably produce and provide these needed products to local customers.” Under the agreements, the partners will form a Sino-foreign joint venture, the Bora LyondellBasell Petrochemical Co. Ltd, that will operate a 1.1 million tpy ethylene cracker and associated polyolefin derivatives complex in Panjin, China, with a total expected cost of approximately US$2.6 billion. The complex will produce products that serve the growing demands of various industries in China, including packaging, transportation, building and construction, and healthcare and hygiene.