Ineos O&P Europe, the olefins and polyolefins arm of the Ineos group that steers its European business, will invest €30 million to convert existing capacity at its polyethylene plant at in Lillo in the Port of Antwerp to either monomodal or bimodal grades of high-density polyethylene (HDPE).
Ineos Phenol is paying $330 million to acquire Mitsui Phenols Singapore. With the deal, expected to close in the first quarter of 2023, subject to regulatory approval, it will add 1 million tonnes of annual capacity to its production volume. The business had sales of $750 million in 2021 and 120 employees, all of whom will transfer to the new owner.
British multinational engineering and consulting group Wood has won a contract worth more than $100 million to provide engineering and construction management services to Ineos’ proposed cracker complex in Antwerp, Belgium.
It has gone somewhat quiet around new European joint ventures in China of late, but Ineos has just announced three back-to-back projects with Chinese state-owned Sinopec that it said are worth altogether $7 billion and will lead to sales of around $10 billion from 7 million tonnes of production.
After Russia announced further cuts in its gas supply to Germany starting Jul. 27, ammonia producers were weighing plans to curb output of the commodity, for which natural gas is the key feedstock.
Ineos Oligomers is expanding its plant for High Viscosity polyalphaolefins (PAO) at La Porte, Texas, in stages up to mid-2025.
Ineos Acetyls has launched a feasibility study to explore building a world scale plant for acetic acid and derivatives on the US Gulf coast.
Spain’s Tecnicas Reunidas has won a contract for Ineos’ ethylene cracker project in Antwerp, Belgium. The scope of work includes project management, engineering, procurement and construction management and supervision services. The value of the contract was not disclosed.
Ineos is pressing full speed ahead to implement its investment strategy for green hydrogen across Europe. In its latest move, the company said it is participating in a project with SGN, the network that distributes natural and “green” gas across the south of England as well as Scotland, to build a UK-wide delivery network for hydrogen.
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Ineos Nitriles has announced plans to build a 15,000 t/y acetonitrile plant at Cologne, Germany, one of its key operating sites. Without quantifying the investment, it said it would be “substantial.”
The Antwerp@C project, which aims to halve the Port of Antwerp’s CO2 emissions, has started engineering studies following the completing of a feasibility study last year. The engineering studies will further investigate constructing a central “backbone” throughout the port, along the industrial zones on both the Right and Left Banks of the River Scheldt.
Ineos Styrolution has sold its StyLight thermoplastic composite materials business to German family-owned firm Ensinger for an undisclosed sum.
As part of a collaboration agreed last year, petrochemicals giant Ineos will test Plastic Energy’s chemical – or advanced – recycling technology at the refinery in Grangemouth, Scotland owned by Petroineos, its joint venture with PetroChina.
Ineos Olefins Belgium has received an environment permit for its planned €3 billion shale gas-fed ethane cracker in the Port of Antwerp, which is now due on steam in 2026. The permit for the facility announced in 2019 and dubbed Project One, is the first step toward approval.
Ineos Styrolution has confirmed plans to invest in a pilot plant in the UK for the chemical recycling of polystyrene (PS). The site in Swindon is being developed in collaboration with Recycling Technologies, a UK-based company with proprietary, patented depolymerization technology, and US plastics and rubber producer Trinseo.
Antwerp is the home port of the largest integrated chemical cluster in Europe. It is the place for entering into partnerships throughout the chain and even across sectors.
Ineos subsidiary Inovyn is planning to build a large-scale 100-megawatt electrolyzer at its site in Cologne, Germany, to produce green hydrogen. In addition, the firm will upgrade existing hydrogen supply in Runcorn, UK. Both moves form part of Ineos’s plans announced on Oct. 18 to spend more than €2 billion on green hydrogen projects.
Ineos has announced plans to spend more than £1 billion toward reducing greenhouse gas emissions at its Grangemouth site in Scotland to net zero by 2045.
Ineos Energy, Wintershall Dea and a consortium of 29 companies, research institutes and universities have signed an agreement to support the next and second phase of the Greensand pilot project in Denmark to demonstrate the safe and permanent storage of CO2.
Ineos has sold its Sulphur Chemicals business to International Chemical Investors Group (ICIG), the fine chemicals platform of the Luxembourg- and Germany-based industrial private equity investor. Financial details of the transaction were not disclosed.
The EU Commission’s ambitious plan for a European Green Deal, launched shortly before the pandemic struck in early 2020, aims to make the continent the world’s first climate-neutral region by 2050. The goals spelled out in January last year call for reduction of greenhouse gas emissions by at least 50% up to 2030, compared with 1990 levels.
Ineos Phenol and utility group Engie are planning a pilot project in Doel, Belgium, that will use hydrogen in a commercial-scale cogeneration plant, replacing the natural gas feed for generating electricity and heat. Initially, 10% of the gas feed will be replaced with hydrogen and, if all goes well, this will be increased to 20%. Engie is responsible for the design, installation and operation of the technology.
Ineos completed its $5 billion acquisition of major petrochemicals assets from BP at the end of 2020, gaining 1,700 employees and adding two new subsidiaries, Ineos Aromatics and Ineos Acetyls.
Confirming speculation earlier in the week, Ineos has announced the appointment of former BP chief financial officer, Brian Gilvary to head a new energy company called Ineos Energy.
Ineos Olefins and Polymers USA has agreed terms to buy Sasol’s 50% stake in their Gemini joint venture for $404 million, taking full ownership. The deal is scheduled to close by year end, contingent on financing.
BP and Ineos have separately launched clean hydrogen projects as moves toward cutting carbon emissions and meeting the zero carbon emissions targets set by the UN and national governments.
Olefins and polyolfins giant Ineos has signed an agreement to buy electricity from Belgian utility Engie’s Norther offshore wind farm in Belgium over a 10-year period. The contract is the largest ever-purchase contract of wind energy for heavy industry in Belgium, the Swiss-headquartered group said.
After declaring in May that it would set up a global healthcare business, petrochemicals giant Ineos launched Ineos Hygienics on Jul. 30. The move was triggered by the outbreak of Covid-19 and the subsequent pandemic, which led demand for sanitizers to soar. Ineos responded by rapidly building six hand sanitizer plants in the UK, USA, Germany and France.
Ineos has launched a €3.6 billion leveraged loan – split between euros and US dollars – to refinance existing debt and reduce its term loan margins. Barclays, Citi and JP Morgan are global coordinators, alongside joint book runners BMO, Credit Suisse, Deutsche Bank, ING and Lloyds.
Ineos has announced it may build its 4x4 off-roader in France, suspending existing plans to build it in Wales and Portugal. The Swiss-headquartered group is now in talks with Mercedes-Benz about acquiring the major German carmaker’s site at Hambach, France, describing the site in was “ideally suited” to the Grenadier.
Steve Harrington, currently president Global Styrene Monomer and Asia-Pacific at Ineos Styrolution, has been appointed as the Germany-based styrenics manufacturer’s new CEO, succeeding Kevin McQuade, who has been named chairman of the company’s supervisory board.
Ineos is buying BP’s global petrochemicals business for $5 billion (£4 billion) in what is being touted as the biggest deal since the coronavirus pandemic began circling the globe in winter and early spring this year.
