13/11/2012

www.gupta-verlag.de/polyurethanes

Huntsman and Sinopec form JV to build PO/MTBE facility in China

The joint venture, Nanjing Jinling Huntsman New Materials Co., Ltd., will build and operate a world scale propylene oxide (PO) and methyl tertiary butyl ether (MTBE) facility in Nanjing, China. The facility is expected to be completed by the end of 2014 and it will utilise Huntsman's proprietary PO/MTBE manufacturing technology. Huntsman will own 49 % of the joint venture, and Sinopec will own 51 %. The facility will produce 550 million lbs (~ 250 kt) of PO and 1.6 billion lbs (~ 726 kt) of MTBE at a capital cost of approximately USD 750 million. Other details of the joint venture were not disclosed. Commenting on the agreement, Peter R. Huntsman, President and CEO said, "This partnership provides a tremendous opportunity for us to further our global expansion and create shareholder value. We are proud to partner with Sinopec, a global leader in energy, refining and chemicals.” Huntsman's Polyurethanes division has world scale production facilities in the USA, the Netherlands and China, including a PO/MTBE plant in Port Neches, TX.

www.gupta-verlag.de/polyurethanes