Houston, March 03, 2025 (GLOBE NEWSWIRE) -- LyondellBasell (NYSE: LYB) today announced an investment to expand propylene production capacity at its Channelview Complex near?Houston.?
Groundbreaking and construction are expected to begin in the third quarter of 2025, with a projected startup in late 2028. The unit will have an annual propylene production capacity of approximately 400 thousand metric tons, employ 750 people during peak construction and is expected to add 25 permanent jobs.
"This capacity expansion strengthens our ability to meet increasing customer demand and improve our self-sufficiency as we grow and upgrade a core business line for LyondellBasell," said Kim Foley, LYB executive vice president, Global Olefins & Polyolefins and Refining. "Additionally, it reduces our exposure to market volatility, which positions LYB to provide consistent returns for our shareholders."
The new metathesis unit will convert ethylene into propylene for use in the production of polypropylene and propylene oxide, which are building blocks for essential materials used in everyday life. End-use-related product lines include food packaging, medical devices, automotive components, aircraft deicing fluid, building insulation, cushions for home furnishings and telecommunications equipment.
ABOUT LYONDELLBASELL
We are LyondellBasell (NYSE: LYB) - a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, we aim to unlock value for our customers, investors and society. As one of the world's largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare. For more information, please visit www.LyondellBasell.com or follow @LyondellBasell on LinkedIn.
FORWARD-LOOKING STATEMENTS
The statements in this release relating to matters that are not historical facts are forward-looking statements. These forward-looking statements are based upon assumptions of management of LyondellBasell which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual results could differ materially based on factors including, but not limited to, market conditions, our ability to obtain all necessary regulatory approvals and to successfully construct and operate the proposed facilities described in this release; industry production capacities and operating rates; our ability to successfully execute projects and growth strategies; and general economic conditions in geographic regions or markets served by LyondellBasell or where operations of the company are located. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the "Risk Factors" section of our Form 10-K for the year ended December 31, 2024, which can be found at www.LyondellBasell.com on the Investor Relations page and on the Securities and Exchange Commission's website at www.sec.gov.
