Ineos to invest £60 mn in the UK to expand production

This significant investment affirms Ineos’ commitment to UK manufacturing at a time when it is in decline across many industrial regions across the country.

“Our plans to invest in the UK with the further expansion of our plant at Grangemouth, has been made possible because we now have access to the raw materials that we need. The successful completion in 2016 of our project to bring to Grangemouth plentiful supplies of competitive US shale gas ethane over a long-term agreement, has breathed new life into the plant,” John McNally, CEO of Ineos O&P UK said in a press release.

“Production from Grangemouth provides vital raw materials used extensively throughout UK industry. Having additional furnace capacity, will provide a range of future opportunities not just for Ineos and for the site but also for the heartlands of manufacturing in Scotland and the North East and North West of England.” McNally added.

Subject to planning approval, preparatory project work is expected to begin later this year, with the main construction work starting in 2019 and commissioning towards the end of 2020.

Grangemouth represents one of Ineos’ largest manufacturing site by volume of products. It is home to Scotland’s only crude oil refinery and produces the bulk of fuels used in Scotland.

Ineos’ petrochemical plants make around 1.3 million tonnes per annum of products, including synthetic ethanol, ethylene, propylene and polymers: polyethylene and polypropylene.

This year, Ineos is celebrating 25 years of continuous manufacture of ethylene on the KG plant. (RKS)

Fibre2Fashion News Desk – India