INEOS and Sasol reach final investment decision on high density polyethylene joint venture.
The 50/50 Joint Venture will build a high-density polyethylene (HDPE) plant in LaPorte, Texas
INEOS Olefins & Polymers USA and Sasol Chemicals North America LLC have announced that they have reached final investment decision to form a joint venture to build a high-density polyethylene (HDPE) plant in LaPorte, Texas.
The 50/50 joint venture will produce 470 kilotons per annum of bimodal HDPE using Innovene™ S process technology licensed from INEOS Technologies. The ethylene required for the production of the HDPE will be supplied by INEOS and Sasol in proportion to their respective ownership positions.
INEOS will operate the HDPE plant at its Battleground Manufacturing Complex in LaPorte. Plant start-up is expected in 2016.
The definitive agreements are in the process of being finalized, and all relevant permits have been obtained. Because the plant will be debt financed, the investment decision is conditional on achieving financial close.
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