BASF
50% stake in Ellba Eastern SM/PO joint venture sold to Shell / Moerdijk jv not part of transaction
In a deal the financial details of which were not disclosed, BASF (Ludwigshafen / Germany; www.basf.com) has agreed to sell its 50% stake in their common Ellba Eastern joint venture to Shell (London / UK; www.shell.com). The transaction is expected to close on 31 December 2014.
Located on Singapore’s Jurong Island, Ellba Eastern has capacity to produce 250,000 t/y of propylene oxide as well as 550,000 t/y of styrene. The plant was founded in 2002.
BASF said its Ellba CV joint venture with Shell in Moerdijk / The Netherlands is not part of the transaction. The latter – which Plasteurope.com’s Polyglobe capacity database (www.polyglobe.net) shows has capacities of 550,000 t/y of SM and 250,000 t/y of PO – is currently offline following an explosion in June and thought unlikely to resume operations this year (for most recent coverage, see Plasteurope.com of 16.07.2014).
BASF said it remains committed to propylene oxide and has signed a supply contract with Shell that will allow it to draw the amounts of PO it needs from Ellba Eastern.
Located on Singapore’s Jurong Island, Ellba Eastern has capacity to produce 250,000 t/y of propylene oxide as well as 550,000 t/y of styrene. The plant was founded in 2002.
BASF said its Ellba CV joint venture with Shell in Moerdijk / The Netherlands is not part of the transaction. The latter – which Plasteurope.com’s Polyglobe capacity database (www.polyglobe.net) shows has capacities of 550,000 t/y of SM and 250,000 t/y of PO – is currently offline following an explosion in June and thought unlikely to resume operations this year (for most recent coverage, see Plasteurope.com of 16.07.2014).
BASF said it remains committed to propylene oxide and has signed a supply contract with Shell that will allow it to draw the amounts of PO it needs from Ellba Eastern.
19.12.2014 Plasteurope.com [230032-0]
Published on 19.12.2014
German version of this article...