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Chemical Week Magazine :: Business & Finance :: Europe/Mideast

Ineos Ups Capex; Delays Closure of U.K. Cracker

3:11 PM MDT | August 9, 2010 | Natasha Alperowicz

Ineos is planning to expand its capital expenditure, which was slashed dramatically in the last few years as part of the company’s cost-containment drive. The move follows refinancing agreements with Ineos’ lenders. The company is also still considering seeking business partners and it is in discussions with PetroChina and undisclosed Mideast investors, but those talks are not as urgent as they once were, Tom Crotty, Ineos group director, tells CW. “Post the refinancing, the pressure on us to do something is dramatically reduced,” Crotty says. PetroChina...

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