INEOS approves building of new steam cracker and PDH plants in Europe

Today INEOS has approved a €2.7 billion 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 for two decades. The location of the site will be determined soon and it 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. Gerd Franken, Chairman INEOS Olefins and Polymers North says, “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”