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Borealis and Nova Chemicals have signed a preliminary agreement with Total Petrochemicals and Refining to form a joint venture to build a 1000 ktpa ethylene cracker in Port Arthur, Texas, and a 625 ktpa Borstar PE plant in Bayport, Texas. The JV is expected to be established in late 2017 with a final investment decision then, and start-up planned for late 2020.