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Advanced Petrochemical and Bayegan to Form PP Production JV in Turkey

3:37 AM MDT | May 4, 2012 | Natasha Alperowicz

Advanced Petrochemical Co. (Advanced; Jubail, Saudi Arabia) and the Turkish trader Bayegan (Istanbul) signed a memorandum of understanding (MOU) on Thursday to build a $1-billion polypropylene (PP) manufacturing complex in Turkey. Advanced said recently that it is carrying out a feasibility study for a PP plant in Turkey.   Sources tell CW that the partners plan to sign the jv agreement before September, probably in the second quarter of this year, and have the plant operating in mid 2015. The new jv, Saudi Turkish Petrochemical Co., will be owned 70%...

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