U.S. shale gas to aid U.K. chemical plant's bottom line

Ineos' Grangemouth chemical plant in Scotland will return to profitability when it begins using U.S. shale natural gas in 2016, said Calum MacLean, chairman and CEO of the company's U.K. unit. The company plans to build landing facilities starting next year to manage low-cost ethane imports from the U.S. The planned $493 million investment and the new supply of inexpensive feedstock will enable the plant to run at full capacity and "produce ethylene on a competitive basis," MacLean said.

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