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Ineos declares force majeure on PP supplies from its plant in Belgium

April 23/2021

MOSCOW (MRC) -- Ineos, one of the word's petrochemical majors, has declared force majeure (FM) on polypropylene (PP) supplies from its plant in Geel, Belgium due to a technical issue, reported NCT with reference to a source familiar with the issue.

Thus, the FM was declared on April 20.

The company could not be reached for comments at the time of publication, however.

The company was conducting a planned maintenance work at its PP plant with the capacity of 290,000 mt/year of PP stretching from early March to mid-April, meanwhile.

As MRC informed before, in January 2019, INEOS announced Antwerp as the location for its new petrochemical investment. The EUR3 billion investment will be the biggest ever made by INEOS and is first cracker to be built in Europe in 20 years. The investment is a game changer for the chemical sectors and will bring huge benefits to the Belgium and wider European economies.

According to MRC's ScanPlast report, PP shipments to the Russian market reached 141,870 tonnes in January 2021 versus 123,520 tonnes a year earlier. Supply of homopolymer PP and PP block copolymers increased.

INEOS Group Limited is a privately owned multinational chemicals company consisting of 15 standalone business units, headquartered in Rolle, Switzerland and with its registered office in Lyndhurst, United Kingdom. It is the fourth largest chemicals company in the world measured by revenues (after BASF, Dow Chemical and LyondellBasell) and the largest privately owned company in the United Kingdom.
Author:Margaret Volkova
Tags:Europe, PP, PP block copolymer, homopolymer PP, propylene, ethylene, Ineos, Belgium, Netherlands, Russia.
Category:General News
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