Ineos board defers a decision to shutter the Porto Marghera facility

18-Jul-08
Ineos Vinyls Italia, a subsidiary of Ineos has quizzed an accord to modernise Italy's petrochemicals sector worked out by Ineos in December 200. Inability to settle a long standing problem over supply of chlorine to Porto Marghera site, just outside Venice, could force Ineos to quit production of poly vinyl chloride (PVC) and vinyl chloride monomer (VCM). Current PVC production capacity at the plant is approximately 200,000 tpa. Since 2000, Ineos has pumped in €60 mln in the Porto Marghera site, and has been working since 2004 on a modernisation plan. The company plans to increase PVC capacity by 60,000 to 260,000 tpa, in a move that will balance production of VCM and PVC. However, the pre condition to the capacity increase is procurement of sufficient quantities of feedstock chlorine. For this, Ineos had chalked out plans to acquire chlor-alkali plant, currently owned by Syndial, a subsidary of the Italian Eni group. Ineos may quit the Porto Marghera site if it cannot solve its chlorine supply problems. At a board meeting on 11 July, the Ineos board of directors has delayed, until end of the month, a decision to deliberate on the 9 July crisis session of Italy's national chemical industry commission. In anticipation of a move in the direction by Ineos, has prompted the commission to postpone action until September.
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