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Lyondell weighs building $2 billion chemical plant: media report
October 25, 2017 / 4:56 PM / a month ago

Lyondell weighs building $2 billion chemical plant: media report

HOUSTON (Reuters) - LyondellBasell Industries (LYB.N) is considering building a new chemical plant that would cost $2 billion, the Houston Chronicle reported on Wednesday.

A decision to build a new plant that would provide chemicals and propylene for growing markets is a year away, Lyondell Chief Executive Bob Patel said, according to the report.

Lyondell did not immediately reply to a request for comment.

“It’ll take us a good part of about 12 months before we get to the point where we make a final decision,” Patel said, according to the report. “But, yes, PDH (propane dehydrogenation) and polypropylene is the next project. It’ll likely be somewhere along the Gulf Coast.”

Lyondell has a plastics plant under construction in LaPorte, Texas, and is getting underway with building a $2.4 billion complex in Pasadena and Channelview, Texas, according to the Chronicle.

The company is scheduled to report third-quarter earnings on Friday.

Reporting by Erwin Seba; Editing by Paul Simao

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