Ineos has announced its plan to invest €2 billion in expanding its European petrochemical capacity.
The swiss-based company, owned by multi-billionaire founder and chairman Jim Ratcliffe, plans to build a new plant to produce propylene. The expansion is expected to add up to 900,000 tonnes of ethylene to its overall capacity.
“These projects represent the first substantial investments in the European chemicals industry for many years,” said Ratcliffe.
These expansion plans follow Ineos’ £1bn deal to acquire the North Sea oil and gas portfolio of Denmark’s Dong Energy.
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