LyondellBasell to Acquire 35% of Saudi Arabia-based Natpet

LyondellBasell (LYB) has agreed to acquire a 35% stake in Saudi Arabia-based National Petrochemical Industrial Company (Natpet) from Alujain for approximately $500 million. Closing of the transaction is subject to regulatory and other customary closing conditions.

Alujain and LYB are also assessing the potential construction of a new propylene via propane dehydrogenation (PDH) and polypropylene (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, the companies said.

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 LYB 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 t.

"This investment in Natpet reflects our strategy of growing and upgrading our core around assets and businesses with lasting advantages," said Peter Vanacker, CEO of LyondellBasell. "We are pleased to invest in this joint venture, which leverages LYB'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."

"We welcome the opportunity to deepen our ties with LYB, first as licensee and now as joint venture partner," said Alujain Chairman Mohammed Bin Saleh AlKhalil. "We look forward to advancing our collective efforts to produce and market essential materials that serve our customers' needs across the globe. This new investment is a great step forward for developing the downstream sector in the Kingdom of Saudi Arabia, and Alujain has plans to drive these developments further."

LyondellBasell’s CEO Peter Vanacker (center left) and Alujain chairman...
LyondellBasell’s CEO Peter Vanacker (center left) and Alujain chairman Mohammed Bin Saleh AlKhalil (center right) at the signing ceremony before His Royal Highness, Abdulaziz bin Salman, Minister of Ener-gy of the Kingdom of Saudi Arabia (fourth from right). Source: LyondellBasell

Interview

Stability in Motion
Strategic Response to a Shifting Pharma Landscape

Stability in Motion

Stefan Oelrich, Member of the Board of Management and President Pharmaceuticals, Bayer, discusses navigating external volatility, reshaping its internal structures, and investing in future-ready capabilities to ensure sustainable growth.

Special Issue

Circular Plastics Economy
Explore the Future of Plastics

Circular Plastics Economy

This special CHEManager issue explores the industry’s pivotal shift towards a more sustainable, circular plastics value chain. Readers will find expert analysis and real-world solutions for today’s most pressing recycling and regulatory challenges.

most read

Photo
28.07.2025 • NewsChemistry

VCI Welcomes US-EU Customs Deal

The German Chemical Industry Association (VCI) welcomes the fact that Ursula von der Leyen, President of the European Commission, and US President Donald Trump have averted the danger of a trade war for the time being.