OMV AG has commenced construction on a 360 km ethylene pipeline extension in Bavaria as part of a consortium-based project. The Ethylene Pipeline South (EPS) project is scheduled to be completed in September 2008 at a total cost of around 150 mln eur. The project cost has gone up from the originally estimated project cost of 140 mln eur.
The state of Bavaria will contribute 45 mln eur to the EPS project, while OMV and its unit Borealis will together carry 33% of the remaining costs.
The state of Bavaria will contribute 45 mln eur to the EPS project, while OMV and its unit Borealis will together carry 33% of the remaining costs.
