INEOS approved a €2.7bln ehtane and propane projects in Europe

According to a press statement by the same company, INEOS has approved a €2.7 billion capital project to build both a world scale ethane cracker and a Propane Dehydrogenation unit in Northern Europe. Both units will benefit from US shale gas economics.
This will be the first new cracker built in Europe for two decades. It will also be one of the most efficient and environmentally friendly plants of its type in the world.
The location of the site will be determined soon and it is likely to be on the coast of North West Europe. A project team has been assigned to consider options and the project is expected to be completed within four years.
This new investment follows a decision taken by INEOS last year to increase the capacity of its existing crackers.