INEOS Oxide completes acquisition of the INESCO combined Heat and Power plant (CHP) on the INEOS Zwijndrecht site in Antwerp
Following the approval of the Belgium competition authority (BCA) we are pleased to announce that INEOS Oxide has completed the acquisition of the INESCO CHP from RWE Generation NL B.V.
The acquisition will ensure the 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 CHP will be integrated into the existing INEOS operations on the Zwijndrecht site.
The plant was constructed in 2007 as a highly flexible CHP capable of producing 240 tonnes per hour of steam and of 130 MW electricity generation.
Graham Beesley CEO of INEOS Oxide said: “The high flexibility of this CHP will allow us to meet the utility requirements of the INEOS operations and our co-siting partners, providing a solid platform for further investment on the Zwijndrecht site”
ENDS
Contacts
Richard Longden (INEOS) 0041 21 627 7063 or 0041 7996 26123
NOTES to editors
The products made by INEOS Oxide are used widely in household goods such as cosmetics, shampoos and toothpaste; construction materials, coatings, paints and inks. It also provides the
building blocks of polymers such as PET and antifreeze used extensively within aircraft and automotive industries.
The Ethylene Oxide business at the Zwijndrecht site in Antwerp was the first to be acquired by INEOS. The company has grown from this single site, originally employing 400 people with a turnover of €200m. Today, INEOS is one of the world’s largest chemicals companies and the 50th largest business in the world, employing around 20,000 people across 171 sites in 24 countries, with sales in 2017 $60bn and EBITDA of €7bn. In addition to its growth in petrochemicals, it has acquired oil & gas fields in the UK, Denmark and Norway and is a top 10 company and the biggest private enterprise operating in the North Sea.