INEOS Oxide has announced plans to invest €200m into its European Oxide business, coinciding with the company’s 20th anniversary.
Of the €200m, €150m of this to be spent directly at its Zwijndrecht site, in Antwerp, where its incredible story of success began in 1998.
This latest round of investment will fund projects that will grow Ethylene Oxide storage and distribution, debottleneck its plants and increase the production of Ethylene Oxide derivatives for the European Market. A sixth alkoxylation unit in Antwerp is due to start up at the end of 2018, along with a 2,000 tonne expansion of ethylene oxide (EO) storage capacity at the site. The company is also upgrading EO production at Lavéra, France to support the growing EO needs in Europe. This phase of investment will improve reliability, efficiency and availability of its business in Antwerp, Belgium as well as sites in Köln, Germany and Lavéra, France.
The company has also reached an agreement with RWE to buy the Inesco Combined Heat and Power (CHP) Plant on the INEOS Zwijndrecht site in Antwerp. This acquisition will ensure the continued, reliable supply of steam, as a critical feedstock, to the INEOS plants on the site as well as our 3rd party co-siting partners. The transaction is expected to close before the end of the year, subject to approvals from the relevant regulatory authorities.
For more information visit: www.ineos.com