🔮 Better than the Oracle? Our Fair Value found this +42% bagger 5 months before Buffett bought itRead More

Lyondell plans to expand propylene capacity at Houston

Published 11/17/2022, 08:10 AM
Updated 11/17/2022, 08:17 AM
© Reuters. FILE PHOTO: An aerial view of LyondellBasell-Houston Refining is seen in Houston, Texas, U.S. August 31, 2017.  REUTERS/Adrees Latif/File Photo

(Reuters) - Lyondell Basell Industries is evaluating expansion of propylene production capacity at its Channelview Complex near Houston, the chemicals maker said on Thursday.

An expansion would involve building a new facility and would expand propylene capacity at Channelview by more than 35% and create about 10-15 new jobs.

The facility would convert ethylene into propylene for use in the production of items such as flexible foam for mattresses, cosmetic packaging, electrical covering for 5G network infrastructure, medical syringes among others.

© Reuters. FILE PHOTO: An aerial view of LyondellBasell-Houston Refining is seen in Houston, Texas, U.S. August 31, 2017.  REUTERS/Adrees Latif/File Photo

A final investment decision on the 400-kiloton propylene expansion project is expected toward the end of next year, Lyondell said.

The project would have an annual capacity of 950-million pounds per year.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.