Borealis invests EUR 36 million to increase Nordic olefins capacity

05.07.2005

Borealis today announced it will invest EUR 36 million in expanding its olefins unit in Porvoo, Finland for completion during a planned turnaround in 2007.

With this investment, ethylene capacity will increase from 330,000 tonnes per year to 380,000 tonnes per year and propylene capacity from 200,000 tonnes per year to 223,000 tonnes per year. This investment strengthens Borealis’ market position and competitiveness in the Nordic countries and Russia.

Staffan Lennström, Borealis Executive Vice President Hydrocarbons, commented on the investment by saying, “this strengthens Borealis’ olefins platform in the Nordic region and the integration upstream as well as downstream to our polyolefins and phenol plants.”

This expansion project also takes safety into consideration as well as the impact on the environment. There will be several changes made which will improve the energy efficiency of the operations. The consumption of steam and electricity will decrease about 4% per production tonne. In addition, the VOC emissions from the olefins plants will decrease. Process safety of the plants will be improved with the installation of new equipment based on new technology.

For media enquiries, please contact:

Tiina Lipponen
Community Affairs Finland, Borealis
+358 9 3949 3003
tiina.lipponen@borealisgroup.com

Iva Rauswall-Frisk
Community Affairs Scandinavia, Borealis
+46 303 86067
iva.rauswall-frisk@borealisgroup.com

Inger Louise Lilholt
Community Affairs Scandinavia, Borealis
+47 3557 7219

Nancy Helledie
Public Affairs Director, Borealis Group
+45 4596 6180
lypresbo@borealisgroup.com

Borealis is a leading, innovative provider of plastics solutions with more than 40 years of experience in polyethylene (PE) and polypropylene (PP). Borealis material is converted by its customers into daily life products such as food packaging, medical devices, diapers, distribution pipes, automotive parts and power cables. With 4,500 employees around the world, Borealis is headquartered in Copenhagen, Denmark with innovation centres, customer service centres and main production sites in Europe and the Middle East. Borealis has representative offices and operations in Asia, North and South America.