Ineos backs two crackers

17 October 2005 00:01  [Source: ICB]

Ineos is committed to progressing its plans for a cracker at Wilhelmshaven, Germany, and Innovene’s cracker complex in Saudi Arabia, once the acquisition of Innovene from BP is complete (see page 6).

A spokesman for Ineos confirmed the company was still considering the ethane-fed ethylene unit in Europe. A project manager has been appointed and recently Ineos signed an agreement with Statoil for feedstock provision for the cracker.

The Innovene project is being developed with Delta, a privately owned Saudi development company. A memorandum of understanding has been signed for a 50:50 joint venture and site locations are being explored in Al Jubail. Commercial agreements will be signed before the end of the year, with construction of a 1.2m tonne/year cracker scheduled to commence mid-2006.

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