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LyondellBasell and Sinopec Finalize JV for PO/SM Plant in China

1/27/2021

LyondellBasell announced on the 26^th of January that it has signed an agreement with Sinopec of China for the formation of a 50:50 joint venture for the specific purpose of installing a propylene oxide (PO) and styrene monomer (SM) project in China's domestic market. Plans for this operation actually began back in late 2019.

This joint venture will be called Ningbo ZRCC LyondellBasell New Material Company Limited and will institute a new PO and SM unit in Zhenhai Ningbo, China with a capacity for 275 KTA of PO and 600 KTA of SM. Any products made will be equally marketed by the JV partners, and startup is anticipated by the end of the year.