LYB Enters into Agreement to Acquire 35% of Saudi Arabia-based NATPET; Expands Core PP Business

Technology-enabled JV increases LYB access to advantaged feedstocks and attractive markets Transaction encompasses existing assets and planned growth projects HOUSTON and RIYADH, Saudi Arabia, Jan. 16, 2024 /PRNewswire/ -- LyondellBasell (LYB) today announced it entered into an agreement to acquire a 35% interest in Saudi Arabia–based National Petrochemical Industrial Company (NATPET) from Alujain Corporation (Alujain) for approximately $500 million. Enabled by its Spheripol polypropylene (PP) technology, ...