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Total to invest EUR160 million in Carling, France

September 05/2013

MOSCOW (MRC) -- Total, Europes third-largest oil company, intends to invest EUR160m before 2016 to adapt its petrochemical platform in Carling, in the Lorraine region of eastern France, and to restore its competitiveness, according to Stockmarketwire.

Total plans indeed to develop new activities on the platform in the growing markets for hydrocarbon resins (Cray Valley) and for polymers, while shutting down the acutely loss-making steam cracker in the second half of 2015.

Total has already reduced European refining through the closing of its plant near Dunkirk in France, capacity reduction at Normandy and the sale of its 49 percent stake in Spains Cia. Espanola de Petroleos SA. Total has also tried and failed to sell its Lindsey plant in the U.K.

The Carling plant, which makes petrochemicals such as ethylene and propylene at the site near the German border, employs 350 Total workers as well as sub-contractors. These chemicals are used to make plastics. 

Total S.A. is a French multinational oil and gas company and one of the six "Supermajor" oil companies in the world with business in Europe, the United States, the Middle East and Asia. The company's petrochemical products cover two main groups: base chemicals and the consumer polymers (polyethylene, polypropylene and polystyrene) that are derived from them.


mrcplast.com
Author:Margaret Volkova
Tags:PP, PS, PE, ethylene, neftehimiya, Total Petrochemicals, France.
Category:General News
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