Dow enters Libyan petrochemical and plastics venture

19 April 2007 – Dow Chemical is to cooperate with Libya’s National Oil Company in a programme to expand the Ras Lanuf petrochemical and plastics complex on the Mediterranean, which was built in the 1980s.

The US group becomes the first external concern to participate in Libya’s petrochemicals industry, following the ending of sanctions on the North African country.

Through a new joint venture, Dow will help to upgrade the existing assets at Ras Lanuf which currently comprise a naphtha cracker, two polyethylene plants and associated infrastructure.

The project includes refurbishment of the existing units followed by construction of an ethane cracker and additional polyethylene and polypropylene facilities. Later phases will include additional hydrocarbon, plastics and chemical production based on natural gas.

“We are very enthusiastic about the opportunity for Dow to participate in this project with NOC and work together to invest in this dynamic part of the world,” said Dow chairman and chief executive Andrew Liveris.

At NOC, chairman Dr Shukri Ghanem commented: “The partnership will bring a respected global company and its expertise together with a proven national enterprise, to upgrade and produce world grade products while enhancing the technical abilities of the Libyan workforce.”