Chemicals giant INEOS has selected Antwerp, Belgium as the location for its largest cracker investment in 20 years, describing the move as a 'game-changer for the chemicals sector.
Photo: INEOS
Sir Jim Ratcliffe, Founder and Chairman of INEOS says: “Our investment in an ethane gas cracker and world-scale PDH unit is the largest of its kind in Europe for more than a generation and is an important development for the European petrochemical industry. We believe this investment will reverse years of decline in the sector.”
INEOS already has a large presence in Belgium, employing 2500 people across nine manufacturing sites, with six of these based in Antwerp and three Research and Technology centres. The new petrochemical complex will be co-located with INEOS’ existing polymer manufacturing sites in Europe and will be connected by pipeline to a number of INEOS ethylene and propylene derivative units in the region.
John McNally, CEO of the project said: “The selection of Antwerp as a location for these new assets is a significant step forward for the development of this project. This decision builds upon our long-standing relationship with the Port of Antwerp, the City of Antwerp, and the governments of Flanders and Belgium.”
Rob Ingram, CEO INEOS Olefins & Polymers Europe. North said: “The addition of these world-scale assets, using cutting edge technologies that are also highly energy-efficient, will give us a competitive and sustainable cost base. We believe this will significantly strengthen the whole of the ethylene and propylene derivative chains within INEOS and allows us to continue to support the growth and development of our customers for years to come.”
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