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BASF and Shell have reached an agreement for BASF to sell its share in the 50-50 joint venture (JV) ELLBA Eastern, Jurong Island, Singapore to Shell. The JV, which is operated by Shell, produces styrene monomer and propylene oxide. Financial details of the transaction were not disclosed.
BASF remains globally committed to propylene oxide and its respective value chains. Therefore, as part of the agreement, BASF and Shell have signed a supply contract to provide BASF with the necessary volumes of propylene oxide.