Methanex (Vancouver, BC) on 22 October announced plans to sell a 10% equity share in Egyptian Methanex Methanol Co. (EMethanex) to Arab Petroleum Investments Corp. (Apicorp; Ad Dammam, Saudi Arabia) for $110 million. The deal, which is expected to close later this year, will increase Apicorp's share of the joint venture to 17%, while Methanex will retain just over 50%. "The transaction aligns with CPChem to decide early next year on Texas NAO expansion Chevron Phillips Chemical's (CPChem) board will make a final investment decision in the first quarter of 2014 on a previously announced expansion of normal alpha-olefms (NAOs) capacity at the company's Cedar Bayou manufacturing complex, at Baytown, TX, Mitchell Eichel-berger, general managerNAOs and polyalpha-olefins at CPChem, says. Eichelberger spoke to CW on the sidelines of the European Petrochemical Association annual meeting, held recently at Berlin.
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