Lyondellbasell to Acquire 35 % Interest in Natpet

500-Million Dollar Deal Lyondellbasell to Acquire 35 % Interest in Natpet

2024-01-22 Source: Press release Lyondellbasell 1 min Reading Time

Related Vendors

LyondellBasell

EagleBurgmann Germany GmbH & Co. KG

Maag Pump Systems AG

TRM Filter d.o.o.

Lyondellbasell has plans to acquire a 35 % interest in Alujain’s Saudi Arabia–based National Petrochemical Industrial Company (Natpet) for 500 million dollars. With this, Lyondellbasell also aims to expand its core PP business.

Lyondellbasell has entered into an agreement to acquire a 35 % interest in Saudi Arabia–based National Petrochemical Industrial Company from Alujain for approximately 500 million dollars. (Source: Pixabay) — Lyondellbasell has entered into an agreement to acquire a 35 % interest in Saudi Arabia–based National Petrochemical Industrial Company from Alujain for approximately 500 million dollars.
(Source: Pixabay)

Riyadh/Saudi Arabia – Lyondellbasell has entered into an agreement to acquire a 35 % interest in Saudi Arabia–based National Petrochemical Industrial Company from Alujain Corporation (Alujain) for approximately 500 million dollars. Enabled by its Spheripol polypropylene (PP) technology, the joint venture positions Lyondellbasell to grow and upgrade its core PP business through access to advantaged feedstocks, plus additional product marketing capacity, in a strategic region.

Closing of the transaction is subject to regulatory and other customary closing conditions. Alujain and Lyondellbasell are also assessing together potential construction of a new propylene via propane dehydrogenation (PDH) and PP facility at the Natpet site, subject to a final investment decision. The project is being studied with a shared goal to implement solutions that align with the Kingdom of Saudi Arabia's 2060 carbon reduction strategy.

Alujain is a petrochemicals, energy, mining and metals company in the Kingdom of Saudi Arabia. As majority owner of Natpet, the company is a longtime licensee of Lyondellbasell’s Spheripol PP technology, one of the solutions it uses to operate a propylene and PP complex in Yanbu Industrial City. Natpet currently has an annual PP production capacity of approximately 400,000 tons.

"This investment in Natpet reflects our strategy of growing and upgrading our core around assets and businesses with lasting advantages," said Lyondellbasell CEO Peter Vanacker. "We are pleased to invest in this joint venture, which leverages Lyondellbasell’s technology, leading global market positions and Alujain's proven operational excellence. We expect the joint venture will add value both through our ownership interest, as well as marketing of the products in key regions."

(ID:49880695)

Subscribe to the newsletter now

Don't Miss out on Our Best Content

Business E-mail

Please enter a valid mailadress.

By clicking on „Subscribe to Newsletter“ I agree to the processing and use of my data according to the consent form (please expand for details) and accept the Terms of Use. For more information, please see our Privacy Policy. The consent declaration relates, among other things, to the sending of editorial newsletters by email and to data matching for marketing purposes with selected advertising partners (e.g., LinkedIn, Google, Meta)

Date: 08.12.2025

Naturally, we always handle your personal data responsibly. Any personal data we receive from you is processed in accordance with applicable data protection legislation. For detailed information please see our privacy policy.

Consent to the use of data for promotional purposes

I hereby consent to Vogel Communications Group GmbH & Co. KG, Max-Planck-Str. 7-9, 97082 Würzburg including any affiliated companies according to §§ 15 et seq. AktG (hereafter: Vogel Communications Group) using my e-mail address to send editorial newsletters. A list of all affiliated companies can be found here

Newsletter content may include all products and services of any companies mentioned above, including for example specialist journals and books, events and fairs as well as event-related products and services, print and digital media offers and services such as additional (editorial) newsletters, raffles, lead campaigns, market research both online and offline, specialist webportals and e-learning offers. In case my personal telephone number has also been collected, it may be used for offers of aforementioned products, for services of the companies mentioned above, and market research purposes.

Additionally, my consent also includes the processing of my email address and telephone number for data matching for marketing purposes with select advertising partners such as LinkedIn, Google, and Meta. For this, Vogel Communications Group may transmit said data in hashed form to the advertising partners who then use said data to determine whether I am also a member of the mentioned advertising partner portals. Vogel Communications Group uses this feature for the purposes of re-targeting (up-selling, cross-selling, and customer loyalty), generating so-called look-alike audiences for acquisition of new customers, and as basis for exclusion for on-going advertising campaigns. Further information can be found in section “data matching for marketing purposes”.

In case I access protected data on Internet portals of Vogel Communications Group including any affiliated companies according to §§ 15 et seq. AktG, I need to provide further data in order to register for the access to such content. In return for this free access to editorial content, my data may be used in accordance with this consent for the purposes stated here. This does not apply to data matching for marketing purposes.

Right of revocation

I understand that I can revoke my consent at will. My revocation does not change the lawfulness of data processing that was conducted based on my consent leading up to my revocation. One option to declare my revocation is to use the contact form found at https://contact.vogel.de. In case I no longer wish to receive certain newsletters, I have subscribed to, I can also click on the unsubscribe link included at the end of a newsletter. Further information regarding my right of revocation and the implementation of it as well as the consequences of my revocation can be found in the data protection declaration, section editorial newsletter.