SABIC, Total mull selling US chemicals plant for over $1 bln: Report

21/11/2023 Argaam

SABIC, Total mull selling US chemicals plant for over $1 bln

SABIC headquarters

Saudi Basic Industries Corp. (SABIC) and French oil major TotalEnergies SE are considering the sale of a jumbo US plant that makes mixed-use chemical ingredients, Bloomberg reported, citing unnamed sources with knowledge of the matter.

 

Total and SABIC are working with an adviser to prepare the sale of the styrene and polystyrene production lines in Carville, Louisiana. Together the two could generate at least $1 billion (SAR 3.75 billion).

 

Talks are still in an early stage, and the companies may eventually decide to keep the plant, the sources added.

 

Both companies jointly own a plant for styrene production in Carville. It operates with a capacity of 1.2 million tons annually, Bloomberg added, citing TotalEnergies’ annual report.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read