Total SA, Borealis AG and NOVA Chemicals Corp. said May 23 that they have closed a joint venture in petrochemicals on the U.S. Gulf Coast.
The new company, named Bayport Polymers LLC, is 50% owned by Total while Novealis Holdings LLC, which is a joint venture between Borealis and NOVA Chemicals, holds the other 50%. Diane Chamberlain was appointed president of the company.
The venture includes an under-construction 1 million-ton-per-year ethane steam cracker in Port Arthur, Texas, Total's polyethylene 400,000 ton-per-year facility in Bayport, Texas, and a new 625,000 ton-per-year Borstar polyethylene unit located at Total's Bayport site.
