Unipetrol acquires technology and production rights for a new polyethylene unit

05-Oct-13

Unipetrol has acquired technology and production rights for a new polyethylene unit. The Czech downstream oil group plans to select a contractor for the project in H1-2014. After posting net losses in 2011 and 2012, Unipetrol laid out plans in June to invest almost US$1 bln over the next five years and make its petrochemical segment the biggest contributor to profit. Unipetrol has inked a licence agreement with chemicals group Ineos for the right to use a production process and technology for the new polyethylene unit.