INEOS to Build New Ethane Cracker, PDH plant in EuropeINEOS to Build New Ethane Cracker, PDH plant in Europe
July 3, 2018
UK-based chemical firm INEOS is poised to make its most sizeable capital investment to date as it prepares to construct a new ethane cracker and propane dehydrogenation (PDH) plant in northern Europe.
The company announced the approval of a €2.7 billion (about $3.1 billion) investment in the new facilities in a press release on Tuesday. Its ethane cracker will be the first constructed in Europe for more than two decades, according to INEOS, featuring a number of advanced, environmentally-friendly features.
“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,” said Jim Ratcliffe, the firm’s founder and its chief executive officer, said in a press release Tuesday.
Last year, INEOS said it would increase the capacity of its European crackers with a $2 billion investment, Powder & Bulk Solids reported.
“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,” Gerd Franken, chairman of INEOS Olefins and Polymers North, said in a statement.
The location of the planned chemical complex is yet to be determined, but the company said a site in north west Europe is the most likely choice.
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