Petrochemical giant Ineos intends to increase the ethylene capacity of its cracker facilities at Grangemouth to over one million tonnes per year.
The company currently produces nearly 4.5 million tonnes of ethylene and propylene annually across Europe, but remains the largest buyer of ethylene and propylene in the region.
Ineos Olefins and Polymers North CEO Gerd Franken said: “These are exciting times for Ineos as we plan to further increase the capacity of our crackers and at the same time to build an entirely new PDH plant in Europe. These expansions and new builds will increase our self-sufficiency in all key olefin products”
Ineos founder Jim Ratcliffe added: “These projects represent the first substantial investments in the European chemicals industry for many years. It has only been made possible because of our $2 billion investment in our Dragon Ships programme which allows us to import ethane and LPG from the US.”