INEOS has acquired Naphtachemical, Gexaro and Appryl, which were 50:50 Joint Ventures between INEOS and TotalEnergies at Lavera in Southern France.
The deal includes one of Europe's largest steam crackers with an annual capacity of 720,000 tons of ethylene. It is an aromatics business with an annual capacity of 270,000 tons and a polypropylene business with an annual capacity of 300,000 tons.
Fully Integrating Assets and Infrastructure
INEOS has completed the acquisition of TotalEnergies' 50% share of Naphtachemin (720 ktpa steam cracker), Appryl (300 ktpa polypropylene business), Gexaro (270 ktpa aromatics business) and 3TC (naphtha storage) announced on July 5th.
These businesses have until today been joint ventures between the two companies. A number of other infrastructure assets have also been acquired including part of TotalEnergies ethylene pipeline network in France.
INEOS will now fully integrate the Naphthachemical, Gexaro and Appryl petrochemical businesses, assets, and infrastructure into INEOS Olefins & Polymers South at Lavera in Southern France. Gexaro, which is located on the Lavera refinery site, will continue to be operated by Petroineos.
Xavi Cros, CEO of INEOS Olefins & Polymers South adds, “
We are pleased that we have today completed the acquisition of TotalEnergies petrochemical assets at Lavera. This is a major step forward for the INEOS French and South European businesses. integrate these assets and enhance the competitiveness of our offer.”
Source: INEOS