Middle East
Materials giant LyondellBasell Industries is acquiring a 35 percent stake in Saudi Arabia–based National Petrochemical Industrial Co. (NATPET) from Alujain Corp. for $500 million.
The 31,000-square-meter indoor facility will produce more than 1,000 metric tons of leafy greens including lettuces, arugula, mixed salad greens and spinach for in-flight meals annually, while reportedly requiring 95 percent less water than conventional agriculture.
Israeli firm UBQ Materials has supplied 2,000 waste containers made of its own recycled plastic to the Central Virginia Waste Management Authority, and the company is also looking at opportunities to expand production into the U.S.
A trio of PET sheet makers are seeking federal help in what they are calling illegal dumping in the United States by suppliers from three other countries.
Chevron Phillips Chemical Co. and Qatar Petroleum are planning a massive petrochemicals site that would include almost 4 billion pounds of annual production capacity for high density polyethylene resin.
Building three new plants in Saudi Arabia will mark Ineos' first step into the region.
In a May 21 news release, the company said the investments will include a new production plant in Singapore, due to come on-stream in the first half of 2021.
Qatar wants to strengthen its trade links with Mexico as it strives to overcome the crippling effects of an economic blockade imposed by Saudi Arabia, Egypt and others almost two years ago.
Flexible packaging producer Indevco Plastics Inc. will invest $9.5 million and add 18 jobs at its extrusion plant in Longview over the next three years.
Saudi energy giant Saudi Aramco has signed a share purchase agreement to acquire a 70 percent majority stake in petrochemicals and chemicals company Saudi Basic Industries Corp. (Sabic) for $69.1 billion.
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