The Ineos benzene collar said March 28 that the company plans to build a world-class styrene plant in the US Gulf of Mexico and will begin engineering research on the project.
The announcement stated that the new styrene plant will use advanced technology and will be equipped with first-class public utilities, and raw materials such as ethylene will come from cheaper shale gas.
Steve Harrington, president of Global Styrene and Asia Pacific, said, 'The new device will complement our existing styrene production capacity and provide us with a sustainable competitive advantage in the global market.'
Ineos BenQ leader CEOKevin Mc Quade said, 'The plan supports the company's 'three-step' development strategy to maintain our position as the world's leading styrene resin supplier.