INEOS to invest US$2 billion building Saudi Arabian plants
Published by Tom Mostyn,
Editorial Assistant
Hydrocarbon Engineering,
INEOS has announced it has signed a memorandum of understanding with Saudi Aramco and Total to build three new plants as part of the Jubail 2 complex in Saudi Arabia.
A new state-of-the-art 425 000 t acrylonitrile plant will use INEOS technology and catalyst. It will be the first plant of its kind in the Middle East when it starts up 2025.
INEOS will also build a 400 000 t linear alpha olefin (LAO) plant and associated world-scale poly-alpha-olefin (PAO). These units will be the most energy efficient in the world when they begin production in 2025.
The location in Saudi Arabia will give INEOS access to competitive raw materials and energy, with well-invested infrastructure, to better serve customers directly in the Middle East and markets across Asia.
Jim Ratcliffe, Chairman of INEOS said: “This is a major milestone for INEOS that marks our first investment in the Middle East. The timing is right for us to enter this significant agreement in Saudi Arabia with Saudi Aramco and Total. We are bringing advanced downstream technology which will add value and create further jobs in the kingdom.”
The project represents a continuation of INEOS’ growth strategy following the announcement of €3 billion investment into a new plant at Antwerp, £1 billion investment across the UK, acquisitions in China and capacity increases in the US Gulf Coast, Alabama and Chocolate Bayou facilities.
Paul Overment, CEO of INEOS Nitriles added: “Global demand for acrylonitrile continues to grow ahead of GDP, to meet the demand for lighter, stronger, energy efficient materials such as ABS, composites and carbon fibre. This first investment in the Middle East consolidates our position as the market leader and shows a clear and ongoing commitment to meet our customers’ needs wherever they are in the world.”
INEOS Nitriles is currently the world’s largest producer of acrylonitrile and acetonitrile with more than 90% of the world’s acrylonitrile using INEOS technology. It currently has four manufacturing plants, two in North America (Texas and Ohio) and two in Europe (Germany and UK). Terminals throughout the world facilitate our sales to customers in all regions globally. The INEOS Nitriles plant in Green Lake Texas is the largest and most efficient facility in the world.
INEOS Oligomers already has a worldwide network of LAO and PAO production plants and bulk storage locations. The business produces a comprehensive range of speciality and intermediate chemicals derived from ethylene and isobutene.
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/03062019/ineos-to-invest-us2-billion-building-saudi-arabian-plants/
You might also like
Five key takeaways from the AFPM Annual Meeting
Following the recent AFPM Annual Meeting in Dallas, Texas, US, the AFPM has released a snapshot of some of the key themes discussed throughout the conference.