Borealis, the Austria-headquartered chemicals giant, has announced it is investing €160m at its production site in Stenungsund, Sweden.

The company states the investment will see the upgrade and rejuvenation of four out of six of its cracker furnaces to the highest standards currently available, whilst the remaining two furnaces will be completely shut down due to age.

Borealis’ Stenungsund cracker has Europe’s largest feedstock storage capacity, states the company.

Last year, Borealis announced a multi-million investment in an upgrade of the cracker and the construction of an ethane storage tank to store ethane imports from the US and Europe.

“Our Stenungsund cracker operations are a key strategic asset and major contributor to our success. This investment programme is especially beneficial, enabling us to secure improved reliability and operability whilst reducing plant complexity and maintenance requirements,” says Mark Garrett, Borealis Chief Executive.

Borealis currently employs around 6,500 people, operates in over 120 countries and saw sales of €8.3bn in 2014.

 

europeanplasticsnews.com

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