Total, Borealis, NOVA Chemicals Sign Agreements to Form Petrochemical JV
19 Febrero 2018 - 10:25AM
Noticias Dow Jones
By Sonia Amaral Rohter
Total SA (FP.FR), Borealis AG and NOVA Chemicals Corporation
said Monday that their affiliates have signed definitive agreements
to form a petrochemical joint venture on the U.S. Gulf Coast.
Total will own 50% of the joint venture, with the other 50% held
by Novealis Holdings LLC, a joint venture between Borealis and NOVA
Chemicals.
The joint venture will include an ethane steam cracker--which is
under construction in Port Arthur, Texas--an existing polyethylene
facility owned by Total in Bayport, Texas and a new polyethylene
unit at Total's Bayport site.
"We look forward to working with Borealis and NOVA Chemicals to
create world-class facilities and become a major player in the
growing U.S. and global market for polyethylene," said Bernard
Pinatel, president of refining and chemicals at Total.
NOVA Chemicals, which is headquartered in Canada, is
wholly-owned by Mubadala Investment Co. of the Emirate of Abu
Dhabi.
Through its holding company, Mubadala owns 64% of Borealis, with
OMV AG (OMV.VI) holding the remaining stake.
The financial details of the deal, which is subject to customary
closing conditions, weren't disclosed.
Write to Sonia Amaral Rohter at
sonia.amaralrohter@dowjones.com
(END) Dow Jones Newswires
February 19, 2018 11:10 ET (16:10 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
TotalEnergies (EU:TTE)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
TotalEnergies (EU:TTE)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024
