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INEOS begins consultation on future of its ageing ethylene plant

04
Oct '08
INEOS has announced its vision for its Grangemouth site, which includes ongoing investment in plant and equipment combined with a full review of older, uneconomic plant. This strategy will enable Grangemouth to realise its full potential and keep it at the forefront of the petrochemical industry.

Tom Crotty, CEO Grangemouth says, “This strategy demonstrates our determination to modernise Grangemouth so that it can maintain its pivotal role in the Scottish economy and at the heart of the Scottish manufacturing industry.”

As part of this long-term strategy, the Company has confirmed investment to modernise its KG ethylene plant, which will enable production of ethylene and propylene from a much wider range of raw materials. The new investment will further enhance KG's status as a world-class cracker facility.

The Company will also start a formal consultation process on the future of its ageing G4 ethylene plant. One of the options under consideration will be possible closure of the plant at the second half of 2009. However, as part of this consultation we are hopeful we will be able to redeploy staff currently working on this plant were we to decide to close it.

The vision being announced includes reviewing all aspects of how Grangemouth operates and includes plans to ensure that Grangemouth staff have the right set of skills and competencies for the future.

INEOS continues to develop 'new talent' by recruiting highly qualified, motivated and skilled personnel to support its investment and modernisation plans. The site has recently welcomed 36 new apprentices and graduates onto its highly regarded modern apprenticeship scheme or into full-time roles.

Tom Crotty says, “Since acquiring Grangemouth, INEOS has invested £400 million in the refurbishment of existing plant and technology. This announcement brings a further substantial investment and we now have a major modernisation and investment programme, which demonstrates our long-term commitment to Grangemouth and our staff.”

INEOS


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