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Mitsui Chemicals and Idemitsu Kosan Link in Chiba Cracker JV

4:09 AM MDT | April 1, 2010 | Natasha Alperowicz

Mitsui Chemicals and Idemitsu Kosan have formed an equally owned joint venture to operate their two naphtha crackers at Chiba, Japan in a move which will save the two firms a combined Y3 billion/year within 18 months, the companies say. Mitsui and Idemitsu last May submitted proposals to the Ministry of Economy, Trade and Industry (METI; Tokyo) a plan to optimize their Chiba cracker operations. Mitsui Chemical operates a 553,000-m.t./year naphtha cracker at Chiba while Idemitsu runs a 374,000-m.t./year plant. The move will increase the two companies'...

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