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BP sells Alabama PTA, PX plant to Thailand’s Indorama
HOUSTON, January 6, 2016 (PCW) –- BP said Wednesday it has agreed to sell its petrochemical complex in Decatur, Alabama, to Thailand’s Indorama Ventures.
The 1,000-acree Decatur site has a capacity of 1 million mt/yr of PTA and paraxylene and is the only commercial manufacturer of naphthalene dicarboxylate. The facility has five units: three for PTA, one for PX and the other for NDC. It employs more some 400 workers.
Indorama Ventures will purchase the Decatur facility, which includes working capital and related infrastructure. The firm will also assume certain contracts with suppliers and customers. The sale price was not disclosed.
The deal is expected to close early in the year when employees will transfer to the new owner.
BP said the sale would allow it to focus its investment on its PTA facilities in Cooper River, South Carolina, and a key PTA feedstock producer in Texas City. It is spending $200 million to upgrade its Cooper River plant in South Carolina and its sister facility in Geel, Belgium, the two largest PTA-producing sites in the Americas and Europe, respectively. Earlier this year, BP started up its new 1.25 million mt/yr Zhuhai 3 unit in Guangdong Province, China. It is the world’s largest single-train PTA production unit. – Samantha Hartke