# LyondellBasell subsidiary to acquire 35% stake in Alujain petrochemical project

Basell International Holdings, a LyondellBasell subsidiary, signed an agreement to acquire a 35% stake in Alujain National Company for Industries, which is developing a petrochemical complex with an investment of SAR 7.5 billion in Saudi Arabia.

- Type: Acquisition
- Announced: 2024-01-16
- Where: Riyadh, Saudi Arabia
- Value: $2.00B (7.50B SAR)
- Status: announced
- Products: propylene, polypropylene, specialty plastics compounds
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [LyondellBasell Industries NV](https://endata.com/companies/21448.md) (investor)
- [Alujain Corporation](https://endata.com/companies/30599.md) (target)
- [Basell International Holdings](https://endata.com/companies/75016.md) (acquirer)

## Sources

- [spa.gov.sa](https://www.spa.gov.sa/w2030216), 2024-01-16: "The agreement outlines Basell's acquisition of a 35% stake in Alujain National Company for Industries (under development), focused on establishing a petrochemical complex with an investment cost of approximately SAR 7.5 billion."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.