INEOS has announced that Antwerp, Belgium will be the location for its multi-billion Euro project for an ethane gas cracker and world-scale PDH unit in Europe. The â¬3bn investment is the largest investment in the European chemicals sector in 20 years and could be a game changer for the Belgium economy.
Sir Jim Ratcliffe, CEO and Chairman of INEOS said, âOur investment in a 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 European chemicals sector.â?
The new petrochemical complex will be co-located with INEOSâ existing sites in Europe making polymers and will be connected by pipeline to a number of INEOS ethylene and propylene derivative units in the region.
INEOS already has a major presence in Belgium, employing 2500 people across 9 manufacturing sites, with 6 of these located in Antwerp and 3 Research and Technology centres.
Rob Ingram, CEO INEOS Olefins & Polymers Europe. North said, âThe 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.â?
