Germany govt bank to finance AkzoNobel chlor-alkali plant upgrade

23 January 2013 18:39  [Source: ICIS news]

LONDON (ICIS)--Dutch chemicals major AkzoNobel has secured a €120m ($160m) loan from a German government bank to help finance a technology upgrade at its chlor-alkali plant in Frankfurt, Germany, officials said on Wednesday.

AkzoNobel announced in 2011 it would invest about €140m to convert the chlor-alkali plant to membrane electrolysis technology from mercury amalgam technology, raising plant capacity to 250,000 tonnes/year from 165,000 tonnes/year.

KfW IPEX Bank said it was providing the money under a programme to help firms finance green chemicals and other environmental projects.

With the new technology, AkzoNobel’s chlor-alkali plant will achieve energy savings of about 30% and eliminate mercury from its waste water, the bank added.

Last year, KfW IPEX provided a reduced-interest loan to help finance Bayer’s 300,000 tonne/year toluene diisocyanate (TDI) project near Cologne.

($1 = €0.75)

By: Stefan Baumgarten
+1 713 525 2653

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