Ineos invest $2bn in Saudi Arabia, build three new plants
X
Waste Management Expo 2020 MAR 12&13 BIEC, Bengaluru, India

Ineos to invest $2bn in Saudi Arabia, to build three new plants

6:14 AM, 4th June 2019
Ineos to invest $2bn in Saudi Arabia

LONDON, UK: Ineos has signed a memorandum of understanding (MoU) with Saudi Aramco and Total SA, to build three new plants as part of the Jubail 2 complex in The Kingdom of Saudi Arabia.

A new state-of-the-art 425,000 tonne acrylonitrile plant, will use Ineos’ world leading technology and catalyst. It will be the first plant of its kind in the Middle East when it starts up 2025. 

Ineos will also build a 400,000 tonne Linear Alpha Olefin (LAO) plant and associated world-scale Poly Alpha Olefin (PAO). These units will be the most energy efficient in the world when they begin production in 2025.

The location in The Kingdom of Saudi Arabia will give INEOS access to competitive raw materials and energy, with well invested infrastructure, to better serve customers directly in the Middle East and markets across Asia.

The project represents a continuation of Ineos’ growth strategy following the announcement of €3bn investment into a new plant at Antwerp, £1bn investment across the UK, acquisitions in China and capacity increases in the US Gulf Coast, Alabama and Chocolate Bayou facilities. 

“This is a major milestone for Ineos that marks our first investment in the Middle East. The timing is right for us to enter this significant agreement in Saudi Arabia with Saudi Aramco and Total. We are bringing advanced downstream technology which will add value and create further jobs in The Kingdom,” said Jim Ratcliffe Chairman of Ineos.

“Global demand for acrylonitrile continues to grow ahead of GDP, to meet the demand for lighter, stronger, energy efficient materials such as ABS, composites and carbon fibre. This first investment in the Middle East consolidates our position as the market leader and shows a clear and ongoing commitment to meet our customers’ needs wherever they are in the world,” added Paul Overment CEO INEOS Nitriles.

“Ineos Oligomers is one of the world’s leading merchant suppliers of LAO and PAO. The size and location of these new plants reinforces our commitment to keep pace with our LAO and PAO customers’ expanding requirements globally,” said Joe Walton, CEO Ineos Oligomers.

© Worldofchemicals News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Polyscope Polymers integrates global SMA biz from Total-Cray Valley

GELEEN, THE NETHERLANDS: Polyscope Polymers BV has completed the business integration of the global styrene maleic anhydride (SMA) copolymers business ...

Read more
BP to sell Egypt’s Gulf of Suez oil interests to Dragon Oil

LONDON, UK: BP Plc has agreed to sell its interests in Gulf of Suez oil concessions in Egypt to Dragon Oil, the Dubai-based oil and gas company. Under ...

Read more
Lonza to spinoff Specialty Ingredients segment

BASEL, SWITZERLAND: Lonza Group announced its intention to proceed with a spinoff of its Specialty Ingredients segment (LSI). The decision will see th ...

Read more
Nouryon announces new structure to support growth strategy

AMSTERDAM, NETHERLANDS: Nouryon has announced a new organizational model as part of its strategy to accelerate growth and drive performance improvemen ...

Read more
BASF builds second UV acrylic hotmelts facility at Ludwigshafen site

LUDWIGSHAFEN, GERMANY: BASF SE has doubled its manufacturing capacity for UV acrylic hotmelts sold under the brand name acResin by building ...

Read more
LyondellBasell makes changes to senior leadership team

HOUSTON, US/ LONDON, UK: LyondellBasell NV announced the following senior leadership changes. Thomas Aebischer, executive vice president and chief fi ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X