Borealis announces EUR 36 million investment to expand olefins unit in Porvoo, Finland.
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.
Borealis and Borouge are leading providers of innovative, value creating plastics solutions. With more than 40 years of experience in polyolefins and using our unique Borstar® technology, we focus on the infrastructure, automotive and advanced packaging markets across Europe, the Middle East and Asia. Our production facilities, innovation centres and service centres work with customers in more than 170 countries to provide the materials that make an essential contribution to society and sustainable development. We are committed to the principles of Responsible Care® and to leading the way in 'Shaping the Future with Plastics'™.
For more information on Borealis and Borouge, a joint venture between Borealis and the Abu Dhabi National Oil Company, visit www.borealisgroup.com and www.borouge.com.
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