A new state-of-the-art 425,000 tonne acrylonitrile plant, will use Ineous’ world leading technology and catalyst. It will be the first plant of its kind in the Middle East when it starts up 2025, said Ineos in a media statement.
Ineos will also build a 400,000 tonne LinearAlphaOlefin (LAO) plant and associated world-scale PolyAlphaOlefin (PAO). These units will be the most energy efficient in the world when they begin production in 2025.
“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,” said Jim Ratcliffe, chairman of Ineos.
The location in Saudi Arabia, will give Ineous access to competitive raw materials and energy, with well invested infrastructure, to better serve customers directly in the Middle East and markets across Asia.
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.
“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,” said Paul Overment, CEO Ineos Nitriles.
“Ineos Oligomers is one of the world’s leading merchant suppliers of LAO and PAO. The size and location of these new plants reinforces our commitment to keep pace with our LAO and PAO customers’ expanding requirements globally,” said Joe Walton, CEO Ineos Oligomers.
Ineos Nitriles is currently the world’s largest producer of acrylonitrile and acetonitrile with more than 90 per cent of the world’s acrylonitrile using Ineous technology. It currently has four manufacturing plants, two in North America (Texas & Ohio) and two in Europe (Germany & UK). 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. (PC)
Fibre2Fashion News Desk – India