Media Release
Corporate
07/06/2016
Borealis invests EUR 40 million in cracker upgrade in Porvoo, Finland
Project to increase propylene production levels and enhance energy efficiency
Borealis cracker in Porvoo, Finland
©Borealis
Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers, announces a EUR 40 million investment to upgrade its steam cracker in Porvoo, Finland. The upgrade will enhance the cracker’s energy efficiency, yield higher production capacities for propylene and crude C4, and enable an overall higher production quality of propylene.
In Porvoo, Finland, Borealis operates one of the most flexible, fully-integrated crackers in Europe. The investment in the cracker will further enhance its performance by boosting capacity and improving energy efficiency. The project is scheduled for completion in the third quarter of 2017. The production capacity of propylene and crude C4 will increase by 30 kilotonnes per annum and 10 kilotonnes per annum, respectively. The project will also upgrade the quality of all produced propylene to polymer grade, thereby increasing value as well as productivity in the adjacent polypropylene production plant.
“Investing in upgrades and capacity expansion at strategic Borealis production locations such as Porvoo enables us to improve the competitiveness of our strong, integrated polyolefins business in Europe,” explains Markku Korvenranta, Borealis Executive Vice President Base Chemicals. “Through continuous investments, Borealis is securing its position among the most innovative and reliable polyethylene and polypropylene suppliers in Europe.”
Flexible, integrated steam crackers and their associated production units form the backbone of the Borealis olefins and polyolefins portfolio in Europe. Borealis sources basic feedstocks such as naphtha, butane, propane and ethane from the oil and gas industry and converts these into ethylene, propylene and other high value hydrocarbons. It also produces propylene in a propane dehydrogenation plant in Kallo, Belgium.
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For further information please contact:
Kerstin Meckler
Director Communications
Tel. +43 (0)1 22 400 389 (Vienna, Austria)
e-mail: kerstin.meckler@borealisgroup.com
About Borealis
Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. With headquarters in Vienna, Austria, the company currently has around 6,500 employees and operates in over 120 countries. Borealis generated EUR 7.7 billion in sales revenue and a net profit of EUR 988 million in 2015. The International Petroleum Investment Company (IPIC) of Abu Dhabi owns 64% of the company, the remaining 36% belonging to OMV, an international, integrated oil and gas company based in Vienna. Borealis provides services and products to customers around the world in collaboration with Borouge, a joint venture with the Abu Dhabi National Oil Company (ADNOC).
Building on its proprietary Borstar® and Borlink™ technologies and more than 50 years of experience in polyolefins, Borealis and Borouge support key industries with a wide range of applications in the areas of energy, automotive, pipes, consumer products, healthcare, and advanced packaging.
The Borouge 3 plant expansion will make Borouge the world’s largest integrated polyolefins complex. Once fully ramped up in 2016, the additional 2.5 million tonnes of polyolefins capacity will yield a total Borouge capacity of 4.5 million tonnes, and a combined Borealis and Borouge capacity of 8 million tonnes.
Borealis offers a wide range of base chemicals, including melamine, phenol, acetone, ethylene, propylene, butadiene and pygas, servicing a wide range of industries. Borealis also creates real value for the agricultural industry, selling approximately 5 million tonnes of fertilizers. Technical nitrogen and melamine products complement the portfolio with applications ranging from mono-nitrogen oxide (NOx) abatement to glues and laminates in the wood working industry.
Borealis and Borouge aim to proactively benefit society by taking on real societal challenges and offering real solutions. Both companies are committed to the principles of Responsible Care®, an initiative to improve safety performance within the chemical industry, and work to solve the world's water and sanitation challenges through product innovation and their Water for the World™ programme.
For more information visit:
www.borealisgroup.com
www.borouge.com
www.waterfortheworld.net
Borstar is a registered trademark of the Borealis Group.
Borlink and Water for the World are trademarks of the Borealis Group.
