INEOS Olefins & Polymers USA (INEOS) and Sasol announced today the signing of a Memorandum of Understanding (MOU) with the intent to form a joint venture to manufacture high-density polyethylene (HDPE).
“This joint venture demonstrates INEOS’s continued commitment to the HDPE market and to growing end-use applications that benefit from bimodal technology. It enables two global companies to integrate with each partner’s upstream businesses the leading bimodal slurry technology on a world-scale asset,” said Dennis Seith, CEO of INEOS Olefins & Polymers USA.
The envisioned facility would produce 470 kilotons per annum of bimodal HDPE using Innovene™ S process technology licensed from INEOS Technologies. The intention is to produce a limited number of grades allowing high grade efficiencies.
“This partnership will leverage the expertise of two global players in the chemical market. Together we will develop a world-scale HDPE plant which will allow us to monetize ethylene and supply a high quality product. The joint venture expands on our greater North American strategy and will complement the products produced from the ethane cracker and derivatives project in southwest Louisiana,” said André de Ruyter,
Sasol Senior Group Executive for Global Chemicals and North American Operations.
Final investment decision is expected to be made in the first half of 2014 with start-up of the plant expected at the end of 2015.
ENDS
For further information please contact:
INEOS
Charles Saunders, Legal & External Affairs
INEOS Olefins & Polymers USA
Direct: (281) 535-6630
Mobile: (832) 444-9638
Email: charles.saunders@ineos.com
Richard Longden,
Communications Manager
INEOS Group AG
Direct: +41 21 627 7063
Mobile: 41 799 626 123
Email: richard.longden@ineos.com
Sasol
Alex Anderson,
Group Media Manager
Direct: 27 11 441 3295
Mobile: 27 71 600 9605
Email: alex.anderson@sasol.com
Jacqui O’Sullivan,
GM Group Communication
Direct: 27 11 441 3252
Mobile: 27 82 883 9697
Email: jacqui.osullivan@sasol.com
Website: www.sasol.com
About INEOS:
INEOS Olefins & Polymers USA is the third largest manufacturer of high-density polyethylene and polypropylene, and the second largest merchant marketer of ethylene, in North America, producing 7.5 billion pounds of olefins and polymers per year from five manufacturing sites. INEOS Olefins & Polymers USA is one of 15 businesses forming the INEOS Group, a global manufacturer of petrochemicals, specialty chemicals, and oil products, with a production network spanning 51 manufacturing facilities in 11 countries employing 15,000 people and producing more than 40 million tonnes of petrochemicals, with sales of around $42 billion.
About Sasol:
Committed to excellence in all it does, Sasol is an international integrated energy and chemicals company that leverages the talent and expertise of its more than 34,000 people working in 38 countries. Sasol develops and commercializes technologies, and builds and operates world-scale facilities, to produce a range of product streams, including liquid fuels, chemicals and electricity. While continuing to support its home base of South Africa, Sasol is expanding internationally based on a unique value proposition that links its diverse businesses into an integrated value chain supported by top-class functions.