Dow forms joint venture with Libyan firm
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Midland, Mich.-based Dow Chemical Company has announced a joint venture with the National Oil Corporation of Libya ...
Dow’s plans make it the first global chemical company to participate in such economic development of the Libyan petrochemical industry.
“This venture is consistent with Dow’s strategy to grow its position in Basic Plastics and Chemicals through joint ventures,” said Dow chairman and CEO Andrew Liveris in a statement. “Our participation in the partnership with NOC at Ras Lanuf will benefit from an advantaged strategic location in the Mediterranean and competitive feedstock.”
The joint venture would encompass the Ras Lanuf site’s existing naphtha cracker, two polyethylene production facilities and associated infrastructure. The project will include refurbishment and expansion of the current units, which will be followed by the construction of an ethane cracker and additional polyethylene and polypropylene facilities.
According to Dow, later phases will include the construction of additional hydrocarbon, plastics and chemical production facilities.
Ras Lanuf is located on the Mediterranean cost of Libya, and was built in the 1980s. According to the petrochemical complex’s website, it was recently commissioned to produce 160,000 metric tons of HDPE and LLDPE.