01 February 2013 17:02 [Source: ICIS news]
HOUSTON (ICIS)--LyondellBasell has called off the expansion of its proposed metathesis expansion, citing the flood of on-purpose propylene plants being built, the company's CEO said on Friday.
A metathesis unit produces propylene by combining ethylene molecules.
LyondellBasell had planned to expand the capacity of an existing metathesis unit. The expansion would have cost about $125m (€93m) and was scheduled to be complete by 2014.
LyondellBasell took the expansion off the table, given all of the announcements to build propane dehydrogenation (PDH) units in North Americas, said Jim Gallogly, CEO. Gallogly made his comments during an earnings conference call.
Companies are considering building up to seven propane dehydrogenation (PDH) plants in the US.
($1 = €0.74)
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