Borealis invests €45 million in Sweden, Finland manufacturing plants

Borealis invests €45 million in Sweden, Finland manufacturing plants

10:03 AM, 31st January 2013
Borealis invests €45 million in Sweden, Finland manufacturing plants
Borealis cracker plant in Stenungsund, Sweden.

VIENNA, AUSTRIA: Borealis announced two major investment projects in its European manufacturing plants in Stenungsund, Sweden and Porvoo, Finland. The investments, with a combined expenditure in excess of €45 million, will strengthen Borealis’ regional supply and support capabilities, in line with its Value Creation through Innovation strategy.

The first investment concerns a C4 project in Stenungsund which will upgrade the facility’s existing raffinate-1 and raffinate-2 streams to meet required product specifications for the delivery of n-butenes. The €21 million investment is scheduled for completion by 1 March 2015, and is part of a broader commitment to support customers’ raw material demand for expanding production of olefin-based products. The project contracting process commenced in December 2012.

In Porvoo, plans have been approved for the replacement of a 30 year old hot oil heater unit at the Phenol complex. The installation of the new heater, scheduled for 2015 at a cost of €25 million, is a key element in improving efficiency and site integration. The new unit will reduce maintenance requirements and CO2 emissions whilst securing safe, continuous, reliable and cost-competitive operations.

“These investments indicate our on-going commitment to support our customers despite the present difficult market environment in Europe. The upgrade projects in Stenungsund and Porvoo indicate our commitment to European locations and the customers and markets they serve, whilst making an important contribution to our Base Chemicals business,” said Mark Garrett, Chief Executive, Borealis.

© WOC News

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