2015-2017 Exhibitions
Germany-based chemical firm BASF has agreed to sell its shares to Shell in the 50:50 joint venture Ellba Eastern in Jurong Island, Singapore. The joint venture, which is operated by Shell, produces styrene monomer and propylene oxide. No financial details were confirmed. The deal will be sealed on the 31 December 2014.
As part of the agreement, BASF and Shell have signed a supply contract to provide BASF with the necessary volumes of propylene oxide. In a press statement, BASF said that it remains committed to propylene oxide and its respective value chains.
Ellba Eastern started production in 2002. The plant is fully integrated into the Shell site on Jurong Island, Singapore, and has an annual capacity of 250,000 tonnes of propylene oxide and 550,000 tonnes of styrene monomer. The Ellba joint venture between Shell and BASF in Moerdijk, the Netherlands, is not affected by the transaction
(PRA)
