Borealis to invest EUR 65 million in Porvoo Borstar PE plant
Wednesday, Jun 26, 2013
Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers, has announced a major upgrading project at its production site in Porvoo, Finland. An investment of EUR 65 million will serve to upgrade the Borstar PE2 plant technology to the third generation (3G), thereby extending the Borstar PE platform. This investment follows on the heels of one announced earlier this year, namely the EUR 25 million investment in the installation of a new hot oil heater unit at the phenol complex of the Porvoo plant.
Borstar® is the cutting-edge technology which supports the production of a wide range of enhanced polyethylene (PE) and polypropylene (PP) products. With this most recent investment, Porvoo will be able to commercially exploit this proprietary technology at an even higher level by offering improved product properties as well as a broader operating window.
In over forty years of operation, Porvoo's six production plants have earned an excellent reputation for reliability and efficiency. While providing manufacturing services with the production of PE and PP, Porvoo benefits from the close proximity to the Nordic markets and is ideally situated to serve the Russian and Eastern European industrial markets. Porvoo is also the site of one of Borealis' three Innovation Centres, the Porvoo Innovation Centre (the other two are the International Innovation Headquarters in Linz, Austria and the Swedish Innovation Centre in Stenungsund). In line with the Borealis Value Creation through Innovation strategy, this latest investment in Porvoo will significantly enhance the location's standing as a hub for catalyst and process research, up-scaling and demonstration.
"The Porvoo upgrade project is a sign of our commitment to further developing our propriatory Borstar® technology, which is a cornerstone of our polyolefins success, and the establishment of one of the most modern fleets in Europe," says Mark Garrett, Borealis Chief Executive. “It signals our dedication to European locations as well as the markets and customers they serve."