New Plant and Capacity Expansion Ineos Plans Massive Expansion in Europe
Next bombshell at Ineos: The Swiss chemical company delivered plans to expand its business in Europe strongly and with high investments. Planned are a new world-scale unit and massive capacity increases at two sites.
Rolle/Switzerland – Ineos has announced plans to construct a world-scale PDH (Propane Dehydrogenation) unit in Europe. The plant will produce 750,000 tonnes per annum of propylene for units across the continent. A number of possible locations are currently being considered including a number sites at Antwerp in Belgium.
The company also intends to increase the ethylene capacity of its cracker facilities at Grangemouth in Scotland and Rafnes in Norway to over 1 million tonnes each.
Gerd Franken, CEO Ineos Olefins & Polymers North says: “These are exciting times for Ineos as we plan to further increase the capacity of our crackers in Europe and at the same time to build an entirely new PDH plant. These expansions and new builds will increase our self-sufficiency in all key olefin products and give further support to our derivative businesses and polymer plants in Europe. All our assets will benefit from our capability to import competitive raw materials from the US and the rest of the world.”
The chemical company currently produces nearly 4.5 million tonnes of ethylene and propylene across Europe, but remains the largest buyer of ethylene and propylene in the region.
In combination, these three major projects will significantly increase the quantities of propylene and ethylene produced in Europe, and will support the continued growth and future profitability of Ineos’ ethylene and propylene derivative businesses, the company said.
CEO Jim Ratcliffe adds, “These projects represent the first substantial investments in the European chemicals industry for many years. It has only been made possible because of Ineos massive $2 billion investment in our Dragon Ships programme which allows us to import ethane and LPG from the US in huge quantities”.