BASF to seal SM/PO jv with Shell mid-'99

23 March 1999 06:37  [Source: ICIS news]

SINGAPORE (CNI)--BASF of Germany said Tuesday it expects to ink by mid-year its 50:50 styrene monomer (SM) and propylene oxide (PO) joint venture project here with Shell Chemicals.

The worldscale facility on Jurong Island will produce 550 000 tonne/year of SM and 250 000 tonne/year of PO when it comes onstream in 2001.

Speculation that the partners may abandon the project because of overcapacity in the region was dismissed by BASF at a news conference here.

John Feldman, president, BASF South East Asia Pte Ltd, said: "We are confident the project will go ahead as planned, and that the deal will be signed by mid-1999."

By: Leslie Chua
+65 6780 4359

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