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Petrochemicals

Ineos investing big in Britain

by Alex Tullo
March 1, 2019 | APPEARED IN VOLUME 97, ISSUE 9

 

Ineos plans to invest £1 billion (about $1.3 billion) in the UK. About half the money will go toward upgrades to the Forties Pipeline System, which can bring 600,000 barrels of North Sea oil onshore every day. A third will go toward a new steam and power plant for Ineos’s Grangemouth, Scotland, refining and petrochemical site. The rest will be used to build a 300,000-metric-ton-per-year vinyl acetate plant in Hull, England. The company has been planning a vinyl acetate plant for Europe since 2017. It closed a vinyl acetate plant in Hull in 2013.

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