LyondellBasell to invest $1.6bn in growth projects through 2016

13 March 2013 13:57  [Source: ICIS news]

NEW YORK (ICIS)--LyondellBasell will invest $1.6bn (€1.2bn) in growth capital expenditures (CAPX) from 2013-2016, a senior executive said on Wednesday.

“This would add over $1.5bn/year in additional EBITDA [earnings before interest, tax, depreciation and amortisation] at 2012 margins by 2017,” said Sergey Vasnetsov, senior vice president of strategic planning and transactions.

Projects include debottlenecks in North American ethylene capacity and derivatives, a methanol restart in the US and a butadiene (BD) expansion in Germany.

He spoke at the company’s annual investor day.

($1 = €0.77)

By: Joseph Chang
+1 713 525 2653

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