LyondellBasell buys shares in PC assets in from Sasol at discount

摘要

Dutch chemical firm LyondellBasell's acquisition of a 50% stake in South African energy and PC firm Sasol's 1.5MM-mt/y ethane cracker and 900K-mt/y low-density polyethylene and linear-low density polyethylene plants in Lake Charles,LA was reported to be at two-thirds of their estimated value as the projects have been marred with costs overruns,delays,and accidents.These complications,combined with the coronavirus pandemic,put the assets at a"very attractive valuation,"according to LyondellBasell CEO Bhavesh Patel.