Dow Chemical Co. will work with National Oil Corp. of Libya to expand a petrochemical complex in that northern Africa nation.
The goal of the project is to grow Libya's Ras Lanuf complex, located on the coast of the Mediterranean Sea. The plant now makes petrochemical products, including more than 300 million pounds of polyethylene annually, as well as plastic feedstocks ethylene and propylene.
Tripoli, Libya-based NOC is a state-owned oil and gas firm.
Midland-based Dow has been active in the Middle East. The firm already operates petrochemical operations in Egypt, Turkey and the United Arab Emirates and is working on a similar project in Oman.
A Dow spokesman said a joint venture between the two sides should be in place by the third quarter of 2007. A construction timetable is to be drawn up at that time.