INEOS Group Holdings SA has today announced it has completed the purchase of the remaining 50% interest in the Noretyl ethylene cracker at Rafnes Norway from its Kerling subsidiary for €200m.
The acquisition coincides with the completion of the INOVYN Joint Venture with Solvay, also announced today.
The Noretyl cracker provides 570,000 tons per annum of ethylene, as well as propylene to the INEOS system. It supplies the Bamble site via dedicated pipeline and is one of only four gas crackers in Europe.
ENDS