Motiva signs agreement to buy Flint Hills’ chemical plants, cracker in US
by ChemOrbis Editorial Team - content@chemorbis.com
According to a press release, Motiva Enterprises, a fully owned affiliate of Saudi Refining Inc., has signed an agreement to acquire a 100% ownership interest in the Flint Hills Resources chemical plant adjacent to its Port Arthur, Texas oil refinery.
Flint Hills Resources’ chemical plants in Port Arthur, Texas includes a cyclohexane plant as well as an ethane cracker which has a capacity to produce 620,000 tons/year of ethylene, and a propylene unit with 340,000 tons/year capacity.
The acquisition, for which the financial details were not disclosed at the time of press, is targeted to close in the fourth quarter of 2019.
Flint Hills Resources’ chemical plants in Port Arthur, Texas includes a cyclohexane plant as well as an ethane cracker which has a capacity to produce 620,000 tons/year of ethylene, and a propylene unit with 340,000 tons/year capacity.
The acquisition, for which the financial details were not disclosed at the time of press, is targeted to close in the fourth quarter of 2019.
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