Plans to increase capacity
Ineos boosts investment in Grangemouth
Energy giant Ineos is to boost capacity in Scotland and Norway and build a European petrochemical production plant at a cost of about €2bn (£1.8bn).
It plans to increase the ethylene capacity of its crackers at Grangemouth and at Rafnes in Norway to one million tonnes each. Both rely on fracked shale gas imported from the US.
Ethylene and propylene are used in the manufacture of plastics.
The company will build a propylene production unit, with sites in Belgium among locations being considered.
Chairman Jim Ratcliffe said: “These projects represent the first substantial investments in the European chemicals industry for many years.
“It has only been made possible because of Ineos’s massive $2bn investment in our Dragon Ships programme which allows us to import ethane and LPG from the US in huge quantities.”