Borealis signs 10-year Porvoo feedstock contract with Neste Oil

30 June 2010 12:38  [Source: ICIS news]

STOCKHOLM (ICIS news)--Borealis will receive feedstock for its petrochemical facilities at Porvoo in Finland from Neste Oil’s refinery at the same site under a new 10-year contract, Borealis said on Wednesday.

“As we have secured the feedstock supply and refinery integration, we can continue to develop our Porvoo facilities into the future and benefit from the close co-operation within the chemical cluster,” said Borealis CEO Mark Garrett.

The main players at the Porvoo cluster are Finnish company Neste Oil, Austrian group Borealis and US-based polyester resin producer Ashland.

Borealis produces 380,000 tonnes/year of ethylene, 220,000 tonnes/year of propylene and 185,000 tonnes/year of phenol and aromatics at Porvoo. Some 390,000 tonnes/year of polyethene and 220,000 tonnes/year of polypropene are also produced at the site.

Borealis also announced a €5m ($6.1m) investment in its Borstar pilot plant at the site. The investment would enable the firm to increase the range produced at Porvoo to include PE125 pipe material, enhanced linear low density polyethylene (LLDPE) film and specialities for high density film and moulding products, it said.

“The Borstar technology is one of the cornerstones of our success and a key element for our international growth strategy,” said Garrett. “This investment will support our strategy to lift the Borstar process technology to the next level.”

($1 = €0.82)

For more on Borealis and Neste Oil, visit ICIS company intelligence
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By: Sverker Nyman
44 20 8652 3214

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