29 September 2008 14:15 [Source: ICIS news]
MONTE CARLO (ICIS news)--INEOS Olefins has entered into a formal consultation period with its employees over the possible closure of its ageing G4 cracker at Grangemouth in the UK, a company spokesman said on Monday.
The closure, tentatively slated for some time during the second half of 2009, was one of the options available to INEOS following a recent review of the operations at the Scotland site, he said.
In a statement, the company said its vision for the Grangemouth site, included “ongoing investment in plant and equipment combined with a full review of older, uneconomic plant”.
It went on to say that “this strategy will enable Grangemouth to realise its full potential and keep it at the forefront of the petrochemical industry”.
The spokesman said that there were plans to spend £109m ($202m, €138m) to modernise its larger KG cracker to “future proof against
This would include the addition of a new naphtha furnace to enable the production of ethylene (C2) and propylene (C3) from a broad range of feedstocks.
KG has the capacity to produce 690,000 tonnes/year of ethylene and 190,000 tonnes/year of propylene, according to ICIS plants and projects.
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