ROTTERDAM, Netherlands, February 19, 2009 -- LyondellBasell Industries and King Abdullah University for Science and Technology (KAUST), currently under construction near Jeddah, Kingdom of Saudi Arabia, announced today that they have signed a Memorandum of Understanding (MOU) confirming their intention to jointly pursue research and development programs in chemical catalysis.
Under the MOU, world-class researchers at KAUST facilities will collaborate with LyondellBasell’s industry-leading technology resources to develop new, more efficient catalyst systems for the production of fuels and basic chemicals.
Scheduled to open in September of 2009, KAUST will serve as an international, graduate-level research university with multi-disciplinary research centers that will house the largest and most advanced technical facilities in the world.
According to Massimo Covezzi, Senior Vice President of Research and Development at LyondellBasell, "We are impressed with KAUST’s scientific potential, the bold scale of its capabilities, and the speed at which it is working to establish research capabilities for the future. We look forward to a fruitful collaboration, and by working together with KAUST, we are confident that we will be able to accelerate the pace of our catalysis developments.”
LyondellBasell Chief Executive Officer Volker Trautz commented, “We are honored to support the growth of scientific research and education in the Kingdom of Saudi Arabia, and to participate in three polyolefin joint ventures in the country.”
LyondellBasell’s three joint ventures located in Al-Jubail Industrial City include Saudi Polyolefins Company (SPC), Saudi Ethylene and Polyethylene Company (SEPC), and Al-Waha Petrochemical Company. This year, LyondellBasell will market nearly two million tonnes of innovative polyolefins from the Middle East based on the company’s leading process technologies.
In addition to a 450 KT per year propane dehydrogenation unit, SPC operates a 720 KT per year polypropylene plant. SEPC has already started up its world-scale one million tonne per year mixed-feed steam cracker and a 400 KT per year Hostalen ACP process HDPE plant, and is in the final stage of starting up a 400 KT per year Lupotech T process LDPE unit. Both PE units will be the largest of their kind in the world. Al-Waha is in the final stage of starting up a 450 KT per year propane dehydrogenation unit that will feed a 450 KT per year Spherizone process PP plant, which will be the largest of its kind in the world.
# # #
About LyondellBasell
LyondellBasell Industries is one of the world’s largest polymers, petrochemicals and fuels companies. We are the global leader in polyolefins technology, production and marketing; a pioneer in propylene oxide and derivatives; and a significant producer of fuels and refined products, including biofuels. Through research and development, LyondellBasell develops innovative materials and technologies that deliver exceptional customer value and products that improve quality of life for people around the world. Headquartered in The Netherlands, LyondellBasell (www.lyondellbasell.com) is privately owned by Access Industries.
About KAUST
King Abdullah University of Science and Technology (KAUST) is being built in Saudi Arabia as an international, graduate-level research university dedicated to inspiring a new age of scientific achievement in the Kingdom that will also benefit the region and the world. KAUST is the realization of a decades-long vision of the Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz Al Saud. KAUST's core campus is located on more than 36 million square meters on the Red Sea at Thuwal – approximately 80 kilometers north of Saudi Arabia's second largest city, Jeddah. KAUST will pursue its research agenda through four strategic research thrusts focused on areas of science and technology that are important to Saudi Arabia, the region, and the world. For more information visit www.kaust.edu.sa.
For media inquiries, contact:
Mark Mendelson, +1 302 683 8141
mark.mendelson@lyondellbasell.com