BASF defers decision on construction of natural gas based propylene plant in Texas

07-Jun-16

Germany's BASF SE has postponed a decision on the construction of a natural gas based propylene plant in Texas due to raw material prices and economic conditions. Last year, BASF had announced an intent to invest around US$1.4 bln in the complex, its largest investment to date.

"Considering the current volatility of raw material prices and the prevailing economic environment, BASF has postponed its final investment decision regarding the construction of a methane-to-propylene complex at its Freeport, Texas, site," the company said in a statement.