Ineos aims to use recycled plastics from Viridor’s new 84 million dollar post-consumer polymers recycling plant to develop a new range of polymers. The deal will enable the creation of a new circular market for plastics.
Ineos has opened the new plant in Rosignano, Italy and aims to produce new plastics from plastic waste. The new facility is part of the company’s global 110-million-dollar research and development programme which supports Ineos’ customers worldwide.
Ineos has invested a significant amount over the past decade for the smooth functioning of the acrylonitrile manufacturing unit at Teesside, UK. However, the facility still requires huge capital to stay viable.
Ashland’s Composites business will now become Ineos Composites and will continue to produce unsaturated polyester resins, vinyl ester resins and gelcoats. The deal also includes acquiring Ashland’s BDO facility in Germany which produces key intermediates for high performance polyesters and polyurethanes.
The new 1.2 billion lb Ethylene Oxide and Ethylene Oxide Derivatives facility will be constructed at Chocolate Bayou, Texas. The location already comprises of two olefins crackers, two polypropylene units and two Cogen facilities operated by Ineos.
The Korean firm SK E&C won the front end engineering & design contract for Ineos’ 750 ktpa facility in Belgium. The scheduled plant is expected to be energy as well as carbon efficient and aims to provide Europe with a sustainable industry.
Additional large-scale investments in new facilities planned: Ineos has signed a letter of intent with Saudi Aramco and Total to build three new plants as part of the Jubail 2 complex in the Kingdom of Saudi Arabia. The British company wants to invest about two billion Dollars.