UK's INEOS completes acquisition of TotalEnergies' joint ventures

INEOS said on Monday that it has completed acquisition of TotalEnergies’ 50% share in their three joint ventures, as well as some other infrastructure assets in France.

The targets are Naphtachimie, Appryl and Gexaro, which were 50:50 joint ventures between INEOS and the French energy major at Lavera in southern France.

Financial details of the acquisition were not disclosed.

The deal includes one of Europe’s largest steam crackers which can produce 720,000 tonnes/year of ethylene under Naphtachimie; an aromatics business with a 270,000 tonne/year capacity under Gexaro; and a 300,000 tonne/year polypropylene (PP) business under Appryl.

INEOS also acquired a naphtha storage, as well as other infrastructure assets, including part of TotalEnergies’ ethylene pipeline network in France.

INEOS will now fully integrate the Naphthachimie, Gexaro and Appryl petrochemical businesses, assets and infrastructure into INEOS Olefins & Polymers South at Lavera in southern France, the company said.

Gexaro, which is located on the Lavera refinery site will continue to be operated by Petroineos.

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Fibre2Fashion News Desk (HU)