OMVKY Omv Ag Bearer (PK)

   by Antonia Di Lorenzo 
 

OMV SA (OMV.VI) said Monday that it will invest 64 million euros ($72.1 million) in the construction of an ISO C4 unit at the Burghausen refinery in Germany.

The Austrian oil-and-gas company said the unit will use a new technology developed in collaboration with the German chemical company BASF SE (BAS.XE) for direct production of high-purity isobutene.

The construction of the unit, which will have a capacity of roughly 60,000 metric tons a year, will start in the summer and operations should begin in September 2020, the company said.

Write to Antonia Di Lorenzo at antonia.dilorenzo@wsj.com

(END) Dow Jones Newswires

July 15, 2019 05:29 ET (09:29 GMT)

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