LyondellBasell and Sinopec Sign Memorandum of Understanding to Establish Joint Venture to Produce Propylene Glycol Ether in China

On November 30, LyondellBasell announced that it had signed a memorandum of understanding with Sinopec, building on the existing 50:50 joint venture (Ningbo Zhenhai Refining & Chemical LyondellBasell New Materials Co.
, Ltd.
) Expand cooperation
.

Under the non-binding memorandum of understanding, the joint venture will build a new propylene glycol ether (PGE) plant in Zhenhai, Ningbo, China, to serve the growing Asian market
.
The new unit will be adjacent to the existing LyondellBasell propylene oxide/styrene (PO/SM) joint venture plant to facilitate the integrated upstream and downstream utilization of its main raw material, propylene oxide
.
Propylene glycol ethers are widely used in the coatings and electronics industries
.

"Asia is a strategic region for our company, and we see increased demand for our products as the economy grows
.
Notably the semiconductor industry, where propylene glycol ether is a key component in the semiconductor production supply chain, this The world-scale facility will support the growth of semiconductor manufacturing in China and the rest of Asia
," said Torkel Rhenman, executive vice president of LyondellBasell's Intermediates & Derivatives and Refining division.
Partnership with Sinopec and local production of propylene glycol ether to meet market demand more efficiently
.
”

The new unit, which will use LyondellBasell's leading propylene glycol ether technology, will produce 125,000 tonnes of product per year and is expected to start up in the second half of 2023
.

About LyondellBasell

LyondellBasell (NYSE: LYB) is a leading global plastics, chemical and refining company
.
With the efforts of its employees around the world, LyondellBasell's materials and products help advance solutions to many of the challenges facing the world today, such as improving food safety through lightweight and flexible packaging, maintaining clean water through tough, versatile pipes, Improve the safety, comfort and fuel efficiency of cars and trucks, as well as ensure the safety and functionality of electrical and electronic equipment
.
LyondellBasell supplies products and services to more than 100 countries around the world, is the world's leading polymer producer and a leading licensor of polyolefin technology
.
In 2021, LyondellBasell was named Fortune Magazine's "World's Most Admired Company" for four consecutive years
.