By the OGJ Online Staff
HOUSTON, June 18 -- Chevron Phillips Chemical Co. LP said Monday that Solvay Polymers Inc. will join in construction of a 700 million lb/year, high-density polyethylene (HDPE) plant at Chevron Phillips' Cedar Bayou chemical complex in Baytown, Tex.
The 50:50 joint venture will share production of general-purpose blow molding HDPE resins. Chevron Phillips and Solvay will market their shares of production independently.
Engineering and procurement for the HDPE plant is under way with start-up operations scheduled for the fourth quarter of 2002. Chevron Phillips technology will be used in the operation. The companies intend to build a second shared facility in the 2005-2007 time frame, depending on market demand.
Solvay Polymers is a wholly owned subsidiary of Solvay America Inc., and a member of the Solvay Group, an international group of chemical and pharmaceuticals companies based in Brussels, Belgium.
Chevron Phillips Chemical Co. LP, Houston, is the US operating subsidiary of Chevron Phillips Chemical Co. LLC. Chevron Phillips Chemical is equally owned by Chevron and Phillips Petroleum Co.
