Issue Date: February 26, 2018
Total, Nova, Borealis advance Texas cracker
Total, Nova Chemicals, and Borealis are moving forward with plans to form a petrochemical joint venture. Total will hold 50% of the venture. Nova and Borealis, both owned by Mubadala Investment of Abu Dhabi, will create a 50-50 firm to own the other half. The venture will include a $1.7 billion, 1 million-metric-ton-per-year cracker that is under construction at a Total refinery in Port Arthur, Texas. It also will build a polyethylene plant in Bayport, Texas, that uses Borealis’s Borstar technology. Total will contribute a smaller polyethylene plant in Bayport. The partners anticipate completing construction in 2020.
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