RTTNews | Oct 6, 2021 07:13AM EDT

07:13 Wednesday, October 6, 2021 (RTTNews.com) - Dow Inc. (DOW) on Wednesday announced its plan to build the world's first net-zero carbon emissions integrated ethylene cracker and derivatives site.

The new investment is expected to produce about 3.2 million metric tons of certified low- to zero-carbon emissions polyethylene and ethylene derivatives by 2030.

Dow said it plans to allocate nearly $1 billion of capex annually to decarbonize its global asset base, in a phased manner.

The organic, brownfield investment is expected to be more than triple the company's ethylene and polyethylene capacity from its Fort Saskatchewan, Alberta site, while retrofitting the site's existing assets to net-zero carbon emissions.

"The investment, which is subject to approval by Dow's Board of Directors and various regulatory agencies, would decarbonize approximately 20 percent of Dow's global ethylene capacity while growing polyethylene supply by about 15 percent and supporting approximately $1 billion of EBITDA growth across the value chain by 2030," Dow said.

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