27 March 2017
DETAILS
Borealis AG and NOVA Chemicals Corporation
signed a preliminary agreement
to form a joint venture (JV) with
Total Petrochemicals and Refining USA, Inc. ("Total")
that will develop and own
a new light feed cracker and
a new Borstar® polyethylene (PE) facility
in Bayport, Texas.
Key aspects of the JV will include:
- building a new 1000 ktpa (2.2 b lb)
ethylene cracker in Port Arthur, Texas - building a new 625 ktpa (1.35 b lb)
Borstar® PE plant in Bayport, Texas - Total's existing Bayport PE facility,
total capacity 400 ktpa (880 m lb)
The JV is expected to be established in late 2017*
and the final investment decision on
the Borstar® PE plant will be taken simultaneously.
The ethylene cracker and Borstar® PE plant
are planned to start-up in late 2020.
The JV will create significant synergies by
* enabling strong integration of the value chain
* and the first-time use of
the proprietary Borstar® PE process technology
in the Americas.
It will also provide competitive export
access to markets outside of North America
to help meet the growing global demand for PE.
For further information please contact:
Borealis:
Patrick Laureys
Senior External Communications Manager
tel.: +43 (0)1 22 400 726 (Vienna, Austria)
e-mail: patrick.laureys@borealisgroup.com
NOVA Chemicals – Media Inquiries:
Jennifer Nanz
Leader, Corporate Communications
e-mail: jennifer.nanz@novachem.com
NOVA Chemicals – Investor Inquiries:
Tracey Simpson
Leader, External Financial Reporting
e-mail: tracey.simpson@novachem.com
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