INEOS Acetyls is conducting a feasibility study for a large-scale Acetic Acid plant and derivatives on the USA gulf coast. The company is considering various high-quality locations in the area. The CEO of INEOS Acetyls, David Brooks, stated that the gulf coast is an advantageous location due to its affordable feedstocks, which will support the global growth and customer demand for Acetyl products. The final investment decision (FID) is expected to be made by the end of 2023. Additionally, INEOS has decided not to proceed with the previously announced VAM plant in the UK due to volatile and uncompetitive energy costs.
INEOS Acetyls has started a feasibility study into a World scale Acetic Acid plant and derivatives on the USA gulf coast and is reviewing several high-quality locations.
David Brooks, CEO INEOS Acetyls said “The gulf coast is a location well known to the INEOS group where we already have a significant presence. With its abundance of competitively priced feedstocks, the area offers a competitive advantage to support the continued global growth and customer demand for Acetyl products”
FID is expected before the end of 2023. The project will be underpinned by INEOS proprietary technology and will take advantage of the latest carbon efficient processes.
As part of the strategic review INEOS will not proceed at present with the previously announced VAM plant in the UK given the volatile and uncompetitive energy costs outlook.