Sabic, ExxonMobil to establish JV on petrochemical complex in Louisiana


Sabic, ExxonMobil to establish JV on petrochemical complex in Louisiana

Sabic and an affiliate of Exxon Mobil Corporation are considering the potential development of a jointly owned petrochemical complex on the U.S. Gulf Coast. The project would be located in Texas or Louisiana near natural gas feedstock and include a world-scale steam cracker and derivative units. Before making final investment decisions, the companies will conduct necessary studies and work with state and local officials to help identify a potential site with adequate infrastructure access. “We are focused on geographic diversification to supply new markets. The proposed venture would capture competitive feedstock and reinforce Sabic’s strong position in the value chain,” said Yousef Abdullah Al-Benyan, Sabic vice chairman and chief executive officer. Read More

Hikma Pharmaceuticals PLC (Hikma, Group) announced an exclusive license, supply and distribution agreement between its wholly-owned subsidiary Hikma Pharmaceuticals International Limited and Beijing Sciecure Pharmaceutical Co Ltd (Sciecure), a leading Chinese company. The agreement provides Hikma with exclusive rights to sell one of Sciecure’s niche injectable anti-viral medicines across US for a minimum of eight years. Sciecure expects to file this product for approval with the US Food and Drug Administration in early 2019. “We are thrilled to partner with Sciecure, an innovative and vertically integrated company capable of producing high-quality products across the pharmaceutical spectrum from API to finished doses. Read More

Albemarle Corporation announced that it has begun earthworks at the Kemerton Strategic Industrial Area, in Western Australia. This is for the construction of the company’s Kemerton lithium hydroxide (LiOH) conversion site. Albemarle recently received the required environmental approval from the Australian federal and state government for the Kemerton plant. “The site earthworks at Kemerton today are on track with our projections. Achieving this milestone underscores our commitment and confidence in developing LiOH operations in Western Australia and in our overall strategy to drive significant shareholder value and meet our customers’ demands,” said Eric Norris, Albemarle President, Lithium. Read More

Clariant announced that it reduced its stake in the Netherlands-based Stahl group by 25 % from 19.7% to 14.8%. Clariant will remain invested in the company as a financial investor. Stahl is a producer of high- quality chemicals, dyes, and coatings for leather and other applications and has about 2000 employees. In 2014 Clariant sold its Leather Service business to the Stahl group for a cash consideration and a 24 % stake in the acquiring group. Read More

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