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NAPP sues Williams over proposed Alberta polypropylene plant
HOUSTON, August 16, 2016 (PCW) -– North American Polypropylene, an affiliate of private equity firm Goradia Capital, has sued Williams over a proposed PP plant it was planning to build in conjunction with Williams’ PDH unit in Alberta.
Last week, NAPP filed suit in the district court of Harris County, stating it has incurred damages of some $400 million.
Williams last week sold its Canadian assets, which included its proposed 1.2 billion lbs/yr PDH unit in Alberta, to Calgary-based Inter Pipeline for CAD$1.35 billion. Inter Pipeline, in a separate statement, said it would make a final investment decision on whether to move forward with the PDH unit by the end of the year.
Last October, Williams signed an agreement with NAPP to purchase 990,000 million lb/yr of PGP on a 25-year term firm fee for service basis for the production of homopolymer polypropylene. NAPP’s PP project would be located on the same site as the PDH unit.
In the lawsuit, NAPP alleges that Williams said it was moving ahead with the PDH unit at the same time Williams was in discussions to be bought by Energy Transfer and then later, when it was attempting to sell its Canadian assets.