BASF SE has announced that it has reached an agreement for it to sell its share in the 50-50 joint venture ELLBA Eastern, at Jurong Island, Singapore to its partner Shell.
The joint venture, operated by Shell, produces styrene monomer and propylene oxide.
Financial details of the transaction have not been disclosed. BASF says that completion of the deal is planned for Dec. 31. The main ELLBA joint venture between Shell and BASF in Moerdijk, the Netherlands, is not affected by the transaction.
ELLBA Eastern started production in 2002 as part of the Shell site on Jurong Island, Singapore, and has an annual capacity of 250,000 metric tons of propylene oxide and 550,000 metric tons of styrene monomer.
BASF and Shell have signed a supply contract to provide BASF with necessary volumes of propylene oxide.