LyondellBasell announced it would be slowing construction of its propylene oxide (PO) and tertiary butyl alcohol (TBA) facility in Pasadena, Texas due to ongoing coronavirus concerns.
As concerns related to the coronavirus pandemic continue to escalate, the company has announced it will be limiting non-essential activities.
The project is abut 30% complete at this time. Once it’s completed, the facility will produce about 1 billion pounds of PO and 2.2 billion pounds of TBA per year.
While construction of the new facility is being slowed, they say that COVID-19 is not expected to impact ongoing operations at Bayport or Channelview.
Source: Yahoo! Finance, “LyondellBasell (LYB) Delays the PO/TBA Project Construction,” by Zacks Equity Research, March 31, 2020