Total, Borealis AG and NOVA Chemicals Inc. has announced they have closed a joint venture in petrochemicals on the U.S. Gulf Coast after receiving all required regulatory approvals.
The company named Bayport Polymers LLC (“Bay-Pol”) is 50% owned by Total and 50% owned by Novealis Holdings LLC, a joint venture between Borealis and NOVA Chemicals. Diane Chamberlain is appointed President of the new entity. The Bay-Pol joint venture includes:
• the under-construction 1Mt/y ethane steam cracker in Port Arthur, Texas
• Total’s existing polyethylene 400 kt/y facility in Bayport, Texas
• a new 625 kt/y Borstar® polyethylene unit at Total’s Bayport, Texas, site, subject to FID