Austrian company Borealis is going to invest EUR 45 million in its European plants in Sweden and in Finland.
Vienna/Austria – Borealis, a leading provider of chemical and innovative plastics solutions, announces two major investment projects in its European manufacturing plants in Stenungsund, Sweden and Porvoo, Finland. The investments, with a combined expenditure in excess of EUR 45 million, should 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 EUR 21 million investment is scheduled for completion by March 1, 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 EUR 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 Borealis say.
More major plant projects in our online database GROAB