Covestro plans to invest around EUR 300 million in a new aniline production unit at its Antwerp site as part of its global MDI investment program. The new unit is expected to launch in 2022 and will ensure a sustainable and efficient supply for Covestro's European MDI network. The investment project will also create additional job positions. The design and process technology of the new unit will prioritize process safety and energy efficiency. The global MDI market is predicted to grow by about 5% per year, and Covestro aims to capitalize on this growth through its investment program.
As part of its global MDI investment program, Covestro plans to invest around EUR 300 million in a new aniline production at its Antwerp site. The launch of the new unit is expected for 2022. As Covestro’s European hub for aniline, the Antwerp site benefits from the attractive infrastructure and logistics at the heart of harbour and has access to the necessary raw materials for aniline. Aniline is an important starting material for numerous chemical products including MDI. MDI is then again a precursor for rigid foam that may be used to provide thermal insulation for buildings and insulation in the refrigeration chain.
“Our Antwerp site plays a crucial role in Covestro’s supply and production network and this investment proves it will continue to do so in the future”, said Volker Weintritt, Managing Director of Covestro in Antwerp. “The increase of our aniline production will ensure a sustainable and efficient supply for our European MDI network including the increasing capacities at our Spanish site in Tarragona.” The investment project will eventually provide extra job positions.
The design and process technology of the new unit in Antwerp will be based on Covestro’s best available technologies in terms of process safety and energy efficiency. The global MDI market is expected to grow by about 5% per year in the long-term, outgrowing the world’s global domestic product (GDP) by some 2 percentage points. With its global MDI investment program Covestro currently accelerates its investment activities to capitalize on the predicted strong MDI market growth.