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Ineos receives loan guarantee paving way for new ethane import terminal at Grangemouth
3:34 AM MDT | July 17, 2014 | Natasha Alperowicz
Ineos O&P UK has received notification from the UK government that its application for an infrastructure loan guarantee has been successful, the company announced today. The guarantee is for a £230 million ($393.6 million) loan and allows Ineos to raise the required funds to invest in a new import terminal to store and process ethane from US shale gas at its Grangemouth, UK site, as North Sea supplies dwindle. The loan guarantee shows support for both the UK petrochemicals sector and for one of the most important infrastructure projects in Scotland...
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