OMV and Borealis to outlay EUR 840 mln for petrochem expansion in Germany

12-Sep-08
A joint investment of EUR 840 mln has been announced by OMV - an integrated oil and gas company and Borealis - a manufacturer of polyethylene and polypropylene resins, for expansion of petrochemical production capacities in Burghausen, Germany In November 2006, OMV Aktiengesellschaft first announced their EUR 1.1 bln investment in Bavaria out of which EUR 640 mln have been invested in Burghausen refinery and an additional EUR 200 mln were invested by Borealis in the expansion of plastics production facilities in adjoining areas. Since 2007, OMV has augmented its ethylene capacity to reach 450,000 tpa and the propylene production to 560,000 tpa. Further, Borealis expanded its polypropylene production by integrating an additional Borstar polypropylene plant on its premises in Burghausen. As Borealis is directly liked to OMV refinery, Borealis' polyolefin capacity has increased 80% to reach 745,000 tpa. Besides, OMV has also planned a 800MW combined-cycle power station for the generation of electricity and steam for the Burghausen refinery. This will further the value-added chain from gas to electricity and will increase the by 5% on average.
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