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The company said it will be spending "hundreds of millions of Euros" on the project.
September 6, 2017
By: Anthony Locicero
Copy Editor, New York Post
INEOS said it will be spending “hundreds of millions of Euros” to build a new 300kt Vinyl Acetate Monomer (VAM) plant. “This is an exciting project for INEOS”, said Graham Beesley, CEO of INEOS Oxide. “The demand for VAM in Europe continues to grow briskly and the market is uncomfortably reliant on imports from remote locations for sufficient supply. “We are pleased to be re-entering the European VAM market where our upstream strength in ethylene and an array of top-notch strategic locations to choose from will give us a competitive advantage.” The company said it is completing an engineering study, which will also help decide on the location: Saltend, Hull (U.K.), Koln, Germany, or Antwerp, Belgium. “Our VAM project represents a further major investment for INEOS and will commit the business to a spend in the hundreds of millions of Euros, whether it is a new build, or a revamp of the former VAM production facility in Saltend, Hull” said Beesley. Pictured: INEOS’ Belgian plant/Photo courtesy: Wikimedia Commons
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