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Daily Wire

  

PetroChem Wire's Daily Wire provides closing prices and a summary of the day's trading activity for US ethylene, proylene, polymers and upstream NGLs markets. Begun in 2007, its olefins and polyolefins prices serve as benchmarks for a number of physical and swap contracts that trade on the CME/NYMEX Clearport system.

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Ineos chooses Antwerp for new chemical complex

HOUSTON, January 15, 2019 (PCW) -- Ineos announced on Monday that Antwerp, Belgium will be the site of a new gas cracker and PDH unit expected to cost around €3 billion.

"Our investment in a gas cracker and world-scale PDH unit is the largest of its kind in Europe for more than a generation and is an important development for the European petrochemical industry. We believe this investment will reverse years of decline in the sector," said Ineos chairman Jim Ratcliffe.

The two olefins units will be co-located with Ineos' existing polymers plant in Antwerp, which has capacities of 440,000 mt/yr HDPE and 90,000 mt/yr PP. The olefins units also will be connected by pipeline to a number of Ineos' derivatives plants in the region.

Ineos signed a technology license for the 750,000 mt/yr PDH plant with McDermott in October 2018.

The company's European olefins capacity currently stands at 4.4 million mt/yr; the new investment will boost that total by around 50%. -- David Barry

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