Bayer MaterialScience (BMS, Leverkusen / Germany; www.bayerbms.com) may be in talks with International Petroleum Investment Co (IPIC, Abu Dhabi / UAE; www.ipic.ae) about a joint venture in the Middle East or even a wider-reaching deal. Conflicting news reports on which the Bayer group has declined to comment quote IPIC chairman Kahdem Abdulla Al-Qubaisi as saying the state-owned investment firm is in talks with five European petrochemical producers, including BMS.

A transaction could be closed in Q1 2010, the reports say. IPIC’s chemicals arm is planning several project in Abu Dhabi, including a 130,000 t/y polycarbonate plant.