Advanced pulls out of PP venture in Turkey; Bayegan seeks new partners

摘要

Advanced Petrochemical (Advanced; Al Jubail) has pulled out of a $1-billion propane dehydrogenation (PDH) and polypropylene (PP) project in Turkey, CW has learned. The plan, first announced in May last year, envisaged construction of a complex in a joint venture between Advanced and trading company Bayegan (Istanbul). The complex was expected to have capacity to produce 455,000 m.t./year of propylene, using PDH technology, and 500,000 m.t./year of PP with completion targeted for the end of 2015. Advanced was expected to hold 70% in the venture and Bayegan the rest.