3 July 2018
ABOUT INEOS OLEFINS & POLYMERS EUROPE
DETAILS
- INEOS commits to building
a new world scale chemical cracker
and PDH plant in North West Europe. - The €2.7 billion is
the biggest capital investment ever made by INEOS. - This is the first cracker to be built in Europe
in over 20 years.
Today INEOS has approved a €2.7 billion capital project to build both
a world scale ethane cracker and
a PDH (Propane Dehydrogenation) unit
in Northern Europe.
Both units will benefit from US shale gas economics.
This will be the first new cracker built in Europe for two decades.
It will also be one of the most efficient
and environmentally friendly plants of its type in the world.
The location of the site will be determined soon
and it is likely to be on the coast of North West Europe.
A project team has been assigned to consider options
and the project is expected to be completed within four years.
This new investment follows a decision taken by INEOS last year
to increase the capacity of its existing crackers.
Gerd Franken,
Chairman INEOS Olefins and Polymers North
“This new project will increase INEOS self-sufficiency
in all key olefin products and give further support
to our derivatives business and polymer plants in Europe.
All our assets will benefit from our ability
to import competitive raw materials
from the USA and the rest of the world”
Jim Ratcliffe
Founder and Chairman of INEOS
“This is the largest investment to be made
in the European chemical sector for a generation.
It will be a game changer for the industry
and shows our commitment to manufacturing.”
“INEOS is going from strength to strength.
This new investment builds on
the huge investment we made in bringing US shale gas
to Europe and will ensure the long-term future
of our European chemical plants.”
Media contacts
Richard Longden (INEOS)
0041 21 627 7063 or 0041 7996 26123
WWW.CHEMWINFO.COM BY KHUN PHICHAI
