LyondellBasell Strengthens Polypropylene Footprint with $500MM Stake in Saudi NATPET
LyondellBasell (LYB) acquires 35% stake in Saudi Arabia's National Petrochemical Industrial Company (NATPET) for $500 million.
Joint venture expands LYB's core polypropylene (PP) business through access to advantageous feedstocks and additional product marketing capacity in a strategic region.
Transaction leverages LYB's technology and Alujain's operational expertise, creating value through ownership and product marketing.
Potential construction of a new propylene plant at NATPET site aligns with Saudi Arabia's 2060 carbon reduction strategy.
LYB, a global leader in polyolefin technologies, continues to invest in sustainable solutions for everyday living.
This strategic acquisition positions LYB for significant growth in its core PP business and strengthens its presence in a key petrochemical market. The collaboration with Alujain also opens doors for further advancements in sustainable production practices.