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OMV to construct a 360km ethylene pipeline in Bavaria
20 Nov '06
2 min read
Austrian energy producer and supplier OMV Aktiengesellschaft has unveiled a 1.1 bln eur expansion plan in Bavaria over the next four years to further strengthen its market position, while increasing security of supply and expanding customer services.
A statement from the company said 640 mln eur is to be invested in the Burghausen refinery, a further 315 mln in the Bayernoil refining network and 180 mln in its Bavarian filling station and commercial business, the company said.
OMV subsidiary Borealis is providing an additional 200 mln eur investment. The decision for the substantial Bavarian investment is strongly linked with OMV's decision to construct a 360km ethylene pipeline from Muenchmuenster to Ludwigshafen which will be completed in the third quarter of 2008, the company said.
Ethylene and polyolefin are used in the production of plastics. The investment will strengthen OMV's value chain to Borealis and further extend its position as the most important monomer (plastic) supplier for the plastics producer.
The total costs of the new pipeline amount to approximately 140 mln eur and will be a cooperation of seven companies: OMV, Ruhr Oel, Borealis, Clariant , Vinnolit, Wacker Chemie and BASF.
'Within OMV's growth strategy, Southern Germany and Bavaria in particular play an important role. We aim to further strengthen the efficiency and profitability of our Bavarian companies - from petrochemicals to refining and marketing,' said OMV deputy chairman Gerhard Roiss.
OMV is the leading gas and oil group in central Europe and Austria's largest listed industrial company.
A statement from the company said 640 mln eur is to be invested in the Burghausen refinery, a further 315 mln in the Bayernoil refining network and 180 mln in its Bavarian filling station and commercial business, the company said.
OMV subsidiary Borealis is providing an additional 200 mln eur investment. The decision for the substantial Bavarian investment is strongly linked with OMV's decision to construct a 360km ethylene pipeline from Muenchmuenster to Ludwigshafen which will be completed in the third quarter of 2008, the company said.
Ethylene and polyolefin are used in the production of plastics. The investment will strengthen OMV's value chain to Borealis and further extend its position as the most important monomer (plastic) supplier for the plastics producer.
The total costs of the new pipeline amount to approximately 140 mln eur and will be a cooperation of seven companies: OMV, Ruhr Oel, Borealis, Clariant , Vinnolit, Wacker Chemie and BASF.
'Within OMV's growth strategy, Southern Germany and Bavaria in particular play an important role. We aim to further strengthen the efficiency and profitability of our Bavarian companies - from petrochemicals to refining and marketing,' said OMV deputy chairman Gerhard Roiss.
OMV is the leading gas and oil group in central Europe and Austria's largest listed industrial company.
OMV Aktiengesellschaft
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