Ineos Shelves Four Biodiesel Units in Europe

Ineos says it has shelved plans to build four biodiesel units in Europe. The plants were to have been built at Antwerp; Grangemouth, U.K.; Lavéra, France; and Wilhelmshaven or Cologne, Germany. They had been scheduled to come onstream by 2012 with combined capacity of about 2 million m.t./year. Ineos announced recently that it would cut capital expenditure to €250 million ($317 million) in 2009 from €600 million in 2008 as part of plans to improve its cost position and preserve cash (CW, Nov. 24, p. 14). Original estimates for the biodiesel...

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