INEOS Nitriles and Tianjin Bohai Chemical Industry Group Corporation to form Joint Venture

On 22nd May, INEOS Nitriles and Tianjin Bohai Chemical Industry Group Corporation signed a non binding Heads of Terms. The agreement set out their intention to form a 50/50 Joint Venture, to build and operate a 260,000 tonne Acrylonitrile plant located in Tianjin, China. It is expected that the plant, which will be designed using the latest INEOS process and catalyst technology, will be completed by the end of 2016.

Rob Nevin, CEO of INEOS Nitriles said, “This is an important investment for the Nitriles business in Asia to support our customers’ growing needs across the region. We are very pleased to be building this new facility with Tianjin Bohai Chemical through the formation of the Joint Venture. Our partnership is set to bring considerable value to both companies and their customers. Bringing together our proprietary Acrylonitrile technology, with Tianjin Bohai Chemical’s expertise and advantaged feedstocks, presents a formidable combination.”

This is the second Joint Venture project INEOS has announced in China this year. In March INEOS Phenol initialled a joint venture agreement with Sinopec YPC. Both Joint Ventures bring together our world leading technology with a strong Chinese partner. They will add up to a total investment across all partners of more than $1 billion.