Borealis invests 40 million euros in cracker upgrade in Porvoo, Finland
Vienna, Austria-based chemical maker Borealis is making a 40 million euro investment to upgrade its steam cracker in Porvoo, Finland.
Announced at a pre-K show event in Linz, Austria on June 7, the upgrade will enhance the cracker’s energy efficiency, yield higher production capacities for propylene and crude C4, and enable an overall higher production quality of propylene.
The project is scheduled for completion in the third quarter of 2017.
The production capacity of propylene and crude C4 will increase by 30 kilotonnes per year, Borealis said, 10 kilotonnes per year, respectively.
“Investing in upgrades and capacity expansion at strategic Borealis production locations such as Porvoo enables us to improve the competitiveness of our strong, integrated polyolefins business in Europe,” said Markku Korvenranta, Borealis executive vice president, base chemicals.
Borealis currently employs approximately 6,500 workers worldwide, and operates in over 120 countries. The company generated 7.7 billion euros in sales revenue in 2015.