LyondellBasell Industries N.V. LYB has recently entered a 50:50 joint venture with China Petroleum & Chemical Corporation (Sinopec) to build a new propylene oxide (PO) and styrene monomer (SM) plant in Zhenhai, Ningbo, China. The new JV is aimed to serve the domestic market of China and will tentatively produce around 300 KTPA PO and 600 KTPA of SM which are core products of LyondellBasell.
The construction of the facility is expected to start in the beginning of 2020 and production will commence in 2022. The new facility will unite LYB’s leading PO/SM technology with Sinopec's operational capabilities to serve the Chinese market. The products will be marketed by both the players thereby ensuring their greater penetration into Chinese market. Currently, LyondellBasell is operating its completely owned chemical units in in Suzhou, Guangzhou, Dongguan, Dalian and Changshu in China.