IPIC plans JV with companies including Bayer to establish petrochemical plant in Abu Dhabi

18-Nov-09

International Petroleum Investment Co, the company that acquired Nova Chemicals for US$2.3 bln earlier this year, is considering building a petrochemical plant in Abu Dhabi through a joint venture. IPIC is in the process of discussing plans of a joint venture with companies including Bayer AG to establish a petrochemical plant in Abu Dhabi. Talks are underway with Bayer, Nova Chemicals Corp., Borealis AG, and a couple of South Korean companies about a joint venture with Abu Dhabi National Chemicals Co.