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Investment
Covestro scraps project again
by Alexander H. Tullo
November 13, 2022
| A version of this story appeared in
Volume 100, Issue 40
Citing a faltering economy due to the European energy crisis and high inflation, Covestro is again shelving its project to build a large methylene-diphenyl-diisocyanate (MDI) plant. The company originally announced plans in 2018 to spend $1.7 billion on a complex in Baytown, Texas, to make the polyurethane raw material. It put the project on hold in 2020 but revived it in 2021, this time for a facility in either China or the US. Covestro emphasized that it thinks the MDI market will remain strong long term.
Chemical & Engineering News
ISSN 0009-2347
Copyright © 2024 American Chemical Society
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