El Paso sells interest in Montreal plant

By OGJ editors

HOUSTON, Mar. 23 -- El Paso Corp. said an indirect subsidiary has sold its 51% interest in Coastal Petrochemical LP, which operates a Montreal paraxylene plant, and associated working capital to Petro-Canada for $74 million.

El Paso obtained the interest as part of its $24 billion merger with Coastal Corp. in 2001 (OGJ Online, Jan. 29, 2001).

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