INEOS New Plant of ABS in China to Strengthen its Position in Global Petrochemical Market
- 10-Jan-2020 1:00 PM
- Journalist: Peter Schmidt
INEOS Group, a British chemical titan will enhance the overall Acrylonitrile Butadiene Styrene (ABS) capacity in China by setting up a new plant with annual capacity of 600,000 tonnes this year. ABS is a widely used petrochemical in automobiles, polymer blends and various electrical applications. The construction and development of the plant would be under the direct monitoring of INEOS Styrolution, headquartered in Germany and is expected to be complete by 2023. Although, Ningbo city in China has been finalized for setting up the plant, the investment details for the project have not yet been disclosed to the public. Steve Harrington, the President of INEOS Styrolution quoted that China being the biggest market of ABS, will give enormous fortuity to fulfill the consumer’s increasing demand in the Asia-Pacific region. Additionally, setting up of the plant in China will also help INEOS Styrolution to increase its manufacturing footmark in Asia-Pacific market.