Another international chemical giant has invested heavily in China

Recently, Lian debasser, one of the world's largest plastics, chemical and oil refining companies, signed a final cooperation agreement with Liaoning Bora group, established a 50:50 joint venture and increased investment in the Chinese market Based on the cooperation agreement, the two sides will establish a Sino foreign joint venture, boraly ambassel Petrochemical Co., Ltd The joint venture will operate an ethylene cracking unit with an annual capacity of 1.1 million tons and related polyolefin derivative equipment The project is located in Panjin, China, with a total investment of 2.6 billion US dollars The project is expected to be put into production in the second half of 2020 "There is a huge demand for high-quality polyolefin products in the Chinese market, which is growing at the same time." Bob Patel, President of lyonbarcel, believes that "the combination of the leading technology of lyonbarcel and the strong operation advantages of Bora will reliably produce and provide products to meet the market demand for local customers." Lyonbarcel will market polypropylene and HDPE products of the project, adopting Spheripol and spherizone polypropylene technology and Hostalen ACP Polyethylene Technology authorized by lyonbarcel respectively According to his Markit analysis, Asia is the largest and fastest growing polyolefin market in the world China accounts for 60% of Asia's polyolefin market and represents 40% of global market growth Olefins and polyolefins are the core technology products of leanderbusser On September 5, 2019, leand Bassel and Liaoning Bora Group signed a memorandum of understanding (MOU) in Panjin, Liaoning Province, to reach an intention for joint venture cooperation At the same time, both sides plan to implement a medium and long-term petrochemical industry project with a total investment of 12 billion US dollars (about 80 billion yuan) on the basis of phase I project as soon as possible in the next 10 years Leandrebassel will fund the project in the coming months The establishment of the joint venture will be subject to the approval of the relevant government, including the anti-monopoly review conducted by China market supervision administration It is reported that Lian debasser is optimistic about the Chinese market and increases investment in China On December 24, 2019, leand Bassel announced to sign a memorandum of understanding (MOU) with Sinopec, and the two parties proposed to form a joint venture company of * * * to build the second propylene oxide / styrene unit in Ningbo It can produce 300000 tons of propylene oxide and 600000 tons of styrene every year It is planned to start construction at the beginning of 2020, and it is expected to be completed and put into operation in 2022.