LyondellBasell Industries is weighing the possibility of embarking on a new multi-billion dollar chemicals and plastics project in the Gulf area.
According to a report in the Houston Chronicle, the company may not reach a final decision for another year. But CEO Bob Patel disclosed that “somewhere along the Gulf Coast” the company will be looking to manufacture propane dehydrogenation and polypropylene.
Lyondellbasell currently has another major project under construction that’s spread between Channelview and Pasadena. The $2.4 billion complex will include the world’s largest propylene oxide and tertiary butyl alcohol plant.
The petrochemicals sector as a whole has been in the midst of a major growth spurt in recent years — to the point where there are concerns that it could be reaching max capacity.
But Patel said that what makes polypropylene attractive is that, unlike polyethylene, it can be used in fabrics.
Like many chemical companies, LyondellBasell also sees the potential for continued rise in demand for plastics in major export markets like Asia.