Claimed to be the biggest investment by the company, the new project will be the maiden cracker project to be built in Europe since the past two decades. The project is expected to bring US shale gas to Europe and ensure a steady future for European chemical plants.
Germany – Ineos has recently approved a 3.15 billion dollar 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 since the past 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 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.
The new project will increase the firm’s self-sufficiency in all key olefin products and further support its polymer plants in Europe. This new investment follows a decision taken by the company last year to increase the capacity of its existing crackers.