18 March 2013 09:10 [Source: ICIS news]
TOKYO (ICIS)--Japan’s Idemitsu Kosan and Mitsui & Co have agreed to establish a 50:50 joint venture to produce linear alpha olefins in the US by 2016, the two firms said on Monday.?xml:namespace>
The two firms have begun initial studies with the aim of building a 33,0000 tonne/year linear alpha olefins plant, they said in a statement.
The joint venture partners are aiming to make a final investment decision in 2014 and expects to start commercial production at the plant in 2016, the firms said.
The location of the plant and the investment cost have not been decided, they said.
The two companies have also signed an initial agreement with US producer Dow Chemical for the procurement of the feedstocks needed for the production of linear alpha olefins, the two firms added.
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