ExxonMobil has announced plans to invest £ 140 million over the next two years to modernize the Fife Ethylene Plant in Mossmoreran, Scotland, the company said.

The plant’s capacity is more than 800 thousand tons of ethylene per year. The company notes that it intends to modernize the plant’s infrastructure and introduce new technologies that will significantly increase operational reliability and productivity. Part of the investment will go into technologies that reduce the impact of the torch, including a modern flare tip that will reduce noise and vibration.

It was previously reported that ExxonMobil in April announced plans to invest more than £ 800 million at the Fawley refinery and petrochemical plant near Southampton in the UK. In addition, a £ 75 million project to double the capacity of an elastomer factory in Newport, Wales was completed in May.

Ethylene is the main raw material component for the production of polyethylene (PE).

According to ScanPlast of Market Report, in Russia the estimated consumption of polyethylene (PE) amounted to 1,255.8 thousand tons in the first seven months of this year, which is 9% more than the same indicator a year earlier. Deliveries of all types of PE increased.

The Fife Ethylene Plant began operations in 1985 and has a production capacity of more than 800 thousand tons of ethylene per year.

Exxon Mobil Corporation is an American company, the largest private oil company in the world, one of the largest corporations in the world in terms of market capitalization. The company conducts oil production in various regions of the world, including the USA, Canada, the Middle East, Azerbaijan, etc.