INEOS announces plans for a major expansion of its Ethylene Cracker plant at Köln Site
INEOS has agreed pre-sanction expenditure for a major cracker expansion at its Köln Site. Construction of a €40 million unit is planned to begin early in 2007, following the projects final approval expected later this year. Capacity from the new unit would be brought on-line during 2008.
Tom Crotty, CEO INEOS Olefins said, “The expansion of the Köln Cracker is a clear sign of INEOS’ commitment to the Köln Site and to the Olefins Business in Europe. INEOS is developing a number of expansion opportunities throughout the business and I am delighted to begin with this planned investment at the heart of our business in Köln.”
Once completed, the new expansion unit will serve two naphtha crackers and will lead to an additional production of ethylene of around 100 000 tons per annum.
The additional ethylene will either be used at the Köln Site to produce polyethylene or will be supplied to other INEOS sites via the ARG pipeline system. In constructing the new unit, advanced technology will be applied with emphasis on the optimisation of energy use and the control of emissions.
Basic engineering work has already commenced with LINDE and ABB Lumus leading the project planning activities.
For further information, please contact:
Norbert Hemsing
Leiter Unternehmenskommunikation
Phone: +49 (0)2133 / 55 6256
Email: norbert.hemsing@innovene.com
David East,
Government and Public Affairs,
INEOS Olefins,
Grangemouth
Phone: +44 (0) 1324 476948
Email: david.east@innovene.com
www.ineos.com
Note to editors:
INEOS is a rapidly growing manufacturer of petrochemicals, speciality and intermediate chemicals and polymers. The company was formed by a management buy out of the former BP petrochemicals asset in Antwerp, which was led by Jim Ratcliffe, who is now its Chairman. The company has subsequently grown through a series of successful acquisitions and continues to build on businesses that have good people and assets, supported by strong market positions and a potential for further growth.
On the 16th December 2005 INEOS completed the purchase of Innovene, BP's olefins, derivatives and refining subsidiary. The acquisition creates a combined business with a turnover of around $33bn. The acquisition of the Innovene business fits with the INEOS strategy to create a petrochemical company that has the scale to compete globally. The addition of the Grangemouth, Köln and Lavéra refineries provides significant opportunities to integrate INEOS’s existing operations with upstream raw materials.
INEOS has 68 manufacturing facilities across 14 countries throughout the world. With 15,600 employees, the Company produces more than 30 million tonnes of petrochemicals, 20 million tons per annum of crude oil refined products (fuels) and sales of around $33bn.
INEOS Olefins has manufacturing units in UK, Germany and France and an annual turnover of €6 billion. It produces around 4.7 million tonnes per annum of olefins and aromatics.
The Köln site was founded in 1957 as a joint venture between BP and Bayer. Production capacity of the Olefins Business at Köln in 2005 amounted to approx. 2.200 kte.