INEOS Enterprises has submitted the planning application for its major investment in a new biodiesel plant at Grangemouth, Scotland.
The plant, which will be at least 500 ktes capacity, represents some €90 million investment in the region and is expected to be on line by mid 2008.
Planning consent for the development is being sought from Falkirk Council, with a decision expected by early summer.
Harry Deans, CEO INEOS Enterprises comments: “This signals the significant progress we have made to get this major investment in place. The Grangemouth site presents us with excellent opportunities to capitalise on the existing synergies with the INEOS refining operations and creates a platform for significant growth in our biodiesel business.
“The investment is a key component in our strategy to achieve at least 2 million tonnes of biodiesel output across Europe by 2012, with more than half of that by 2010. The Grangemouth plant, along with the ongoing expansion to double output at our existing biodiesel operation in France, puts us well on track to achieve our growth ambitions to become Europe’s leading biodiesel supplier.”
INEOS Enterprises recently announced the appointment of DeSmet Ballestra Oleo as its major technical partner in biodiesel, with the Company now well advanced with the Front End Engineering and Design for the Grangemouth investment.
For further information please contact:
Craig Welsh, INEOS Enterprises Press Office
Phone: 01928 511528
Email: craig.welsh@ineoschlor.com
Notes to editors:
INEOS is a leading global manufacturer of refined products and basic, intermediate and speciality chemicals. The Company is made up of multiple decentralised businesses, each with a major chemicals company heritage.
The INEOS production network spans 68 manufacturing facilities in Europe, North America, South America, Asia and Africa. The combined INEOS Group generates more than $33bn in revenues and has more than 15,000 employees. This makes INEOS the third largest independent chemicals company in the world and the largest in the UK, as well as the country's largest private company.
INEOS Enterprises is a portfolio of eight leading businesses manufacturing chemical products in Northern Europe and Southeast Asia, with sales of these products to customers around the world. The Company is focused on the developing needs of customers and rapid growth through investment in new products and manufacturing facilities or by acquisition. INEOS Enterprises employs some 500 people across sites in the UK, France, Germany and Thailand and has an annual turnover in excess of €600 million.
The crude oil refinery at Grangemouth is operated by INEOS Refining, which is the largest independent refiner in the EU. The Grangemouth refinery supplies ultra low sulphur diesel and petrol to the fuels markets of Scotland and northern England.
The INEOS site at Baleycourt is operated by INEOS Enterprises and has been producing biodiesel for more than 10 years. The site is in the heart of France’s second largest vegetable oil producing region, and the new investment currently underway at the site will allow around 400,000 tonnes of locally produced rapeseed to be transformed into oil and then biodiesel for supply to the French, Belgian and German fuels markets.
Biofuels are sources of energy that are manufactured from renewable resources, for example rapeseed. Specifically, biodiesel is an alternative fuel produced from renewable sources such as vegetable oils that can be blended with diesel and used to power conventional diesel engines without modification. It can also be used as a replacement fuel for oil in industrial processes.