LyondellBasell to acquire 35% of Saudi petrochemical company for $500 million

LyondellBasell, a global leader in petrochemicals, today announced the signing of an agreement to acquire a 35 per cent interest in Saudi Arabia–based National Petrochemical Industrial Company (NATPET), for approximately $500 million. NATPET, which is owned by Alujain Corporation, uses LyondellBasell’s Spheripol polypropylene (PP) technology.