2006/4/18 Westlake Chemical

Westlake Chemical and The Republic of Trinidad and Tobago Announce Memorandum of Understanding; Development of an Ethane-Based Ethylene, Polyethylene and Other Ethylene-Derivatives Project

Westlake Chemical Corporation ("Westlake") and The Government of the Republic of Trinidad and Tobago ("Trinidad and Tobago") announced today that the parties have entered into a Memorandum of Understanding (MOU) for Westlake to develop an ethane- based ethylene, polyethylene and other derivatives project in that country. The project evaluation will be undertaken in conjunction with The National Gas Company of Trinidad and Tobago, Ltd. (NGC), and the National Energy Corporation of Trinidad and Tobago, Ltd. (NEC). Trinidad and Tobago has expressed an interest in becoming a minority equity partner in the project.

As currently envisioned, the project would use 37,500 barrels per day of ethane to produce
570,000 tonnes per year of ethylene, which would in turn be used to produce polyethylene and other derivative products. The project could be expanded in the future as more ethane becomes available. The capital cost is initially estimated to be approximately US$1.5 billion. The size, scope, and cost of the project are subject to further definition as the parties undertake a detailed feasibility study pursuant to the MOU. It is expected that the project would be financed through a project financing arrangement. The preliminary project schedule shows that construction would start in late 2007 and that the project would start operations in late 2010.

"Westlake is pleased to announce the signing of this important MOU and views this as an opportunity to utilize our strong background in ethylene, polyethylene and other derivative products and to work with the Government of the Republic of Trinidad and Tobago in furtherance of the strategic development of their globally competitive petrochemical industry. This project, with its advantaged location and feedstock, will serve the growing markets in the Americas," stated Albert Chao, President and CEO of Westlake Chemical Corporation.

"This project is an important step in our continued efforts to diversify the energy sector and to create spin-off industries thereby promoting more linkages between the non-oil and petroleum sectors of our economy. Further, this project once on stream, would help to ensure the optimal utilization of our hydrocarbon resources by diversifying the sources of national income while creating development opportunities for the welfare and prosperity of the nation .... This investment therefore has significant opportunities for job- creation, wealth generation, and new skills development for the people of Trinidad and Tobago," said Dr. Lenny Saith, Minister of Energy and Energy Industries.

The National Gas Company of Trinidad and Tobago, Ltd (NGC) is a Trinidad and Tobago company charged with supplying natural gas and ethane to plants in Trinidad in support of the Republic of Trinidad and Tobago's policies and programs to develop downstream energy sector projects.

National Energy Corporation of Trinidad and Tobago, Ltd. (NEC) is a Trinidad and Tobago company that will assist project companies in acquiring

facilities, equipment, materials and logistics required in the ordinary course of constructing and operating developed projects.

Westlake Chemical Corporation (WLK) is a manufacturer and supplier of petrochemicals, polymers and fabricated products with headquarters in Houston, Texas. The company's range of products includes: ethylene, polyethylene, styrene, propylene, caustic, VCM, PVC and PVC pipe, windows and fence. For more information, visit the company's Web site at http://www.westlakechemical.com .

The statements in this release relating to the proposed petrochemical and polymers project, as well as any other matters that are not historical facts, are forward-looking statements that are subject to risks and uncertainties. Actual results could differ materially, based on factors including, but not limited to, changes in the world economy and the results of negotiations of contracts needed to implement the proposed project. For more detailed information about factors that could cause actual results to differ materially, please refer to Westlake's Annual Report on Form 10-K for the year ended December 31, 2005, which was filed in February 2006.

Apr 19, 2006 (Chemweek's Business Daily/Access Intelligence via COMTEX) --

Trinidad has used its gas reserves to become a major low-cost production source of nitrogen fertilizer, methanol, and LNG over the past three decades, analysts say.

"Capital costs are high, though we believe the feedstock supply agreement with NGC will be structured to afford it significantly lower delivered costs for ethylene/PE than for any producer in North America," says Jeffrey Zekauskas, analyst with J.P. Morgan. "We believe additional regional capacity is an incremental negative for other petrochemical producers in North America." The Westlake project represents the island's first ethylene facility, Zekauskas adds. "We believe the ethane requirements are such that this project precludes another ethylene producer adding capacity in Trinidad." The project could include vinyls as well, because of the availability of low-cost gas and a local brine source for chlorine production, says Kevin McCarthy, analyst at Banc of America Securities (New York).

Platts 2006/7/6 @@

Trinidad and Tobago concludes agreements for two projects

The government of Trinidad and Tobago has concluded agreements for two projects to generate downstream industries in second stage processing of petrochemicals in Trinidad and Tobago, according to a statement by Energy Minister Lenny Saith to Trinidad and Tobago's Parliament Wednesday.

One agreement covers development of a
$1.5 billion ethane-based ethylene/polyethylene complex by US-based Westlake Chemical Corp, and the T&T government, following the signing of a project MOU earlier this year. The complex, comprising an ethylene cracker and a polyethylene facility, will be built on 250 acres at a site to be identified.

Construction will be done in three phases with work scheduled to start in the last quarter of 2007, Saith said, and production is expected to start in 2010. The government said earlier it expected to produce
570,000 mt/yr of ethylene and ethylene derivatives. The project will be financed by equity (30%), and debt (70%), with the T&T government allowed the option of acquiring a project equity stake of no less than 10% and up to 30%.

"We expect the ethylene complex to trigger the development of a whole new range of downstream manufacturing activity in medium and small enterprises for the production of plastic film, bags, cups, appliance parts, pipes and related products," Saith said.

The other agreement covers development of a
maleic anhydride processing facility by Isegen (PTY) Ltd, a wholly-owned private company in South Africa that manufactures chemicals for food additives, Saith noted. Project capital is estimated at $64 million, and construction was scheduled to begin in the third or fourth quarter of 2008. Maleic anhydride is an intermediate chemical used for food and beverage products, pharmaceuticals, resins, oil additives,detergents and agricultural products.

Discussions for the project began in mid-2005 and an MOU to establish commercial terms was signed in December 2005 between Isegen and Trinidad-based Phoenix Park Gas Processors Limited (PPGPL), Saith said. T&T is home to more than 25 petrochemical plants, with several major additional plants now at an advanced stage of development, according to Saith.

2008/3/19 Westlake Chemical

North American Pipe to Open New PVC Pipe Plant
Facility to be located in Yucca, AZ

North American Pipe Corporation, a subsidiary of Houston-based Westlake Chemical Corporation, announced today that it will open a new PVC pipe plant in Yucca, AZ.

The new plant is expected to begin operations by the 1st quarter of 2009 and will annually produce approximately 120 million pounds of PVC pipe in its initial phase. With an initial investment of approximately $30 million the plant will add approximately 75 new positions to the local economy.

The facility will produce PVC pipe for the water, sewer, irrigation and related industrial and residential markets in diameters ranging from 2 to 36 inches. When this plant is completed, the company's annual PVC pipe capacity will be increased to approximately 985 million pounds.

Mr. Mike Powell, North American Pipe's Vice President and General Manager stated, "This new pipe plant is an important part of our integrated vinyls strategy and will allow us to serve our pipe customers from coast-to-coast with a wide array of pipe solutions."

North American Pipe Corporation
North American Pipe is a wholly-owned subsidiary of Westlake Chemical Corporation and currently operates eight (8) PVC pipe plants throughout the United States. Last fall the company announced it was beginning construction of a PVC pipe plant in Calvert City, KY with a capacity of 55 million pounds per year of large diameter pipe which is expected to be completed in the second half of 2008.