Ineos invest €2.7 billion in new European chemical complex
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Ineos to invest €2.7 billion in new European chemical complex

11:08 AM, 5th July 2018
Ineos plant at Grangemouth, Scotland.
Ineos plant at Grangemouth, Scotland.

ROLLE, SWITZERLAND: 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.

“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,” said Gerd Franken, chairman Ineos olefins and polymers north.

“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,” added Jim Ratcliffe, founder and chairman of Ineos.

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