Ineos announces mega-investment in the port of Antwerp

Major investment

Marvin Meyke, 21.01.2019, 11:00

Ineos announces mega-investment in the port of Antwerp

The chemical company Ineos has chosen the port of Antwerp as the location for a mega investment worth three billion euros. The company is planning to build a new propane dehydrogenation plant (PDH) and an ethane cracker in Antwerp.

Ceremonial signing of the mega-investment in Antwerp's Port House. © Antwerp Port Authority

The plants will convert propane and ethane into propylene and ethylene. These raw materials are required for chemical products used in a wide range of industries such as automotive, construction, clothing, cosmetics and personal care, pharmaceuticals, electronics and packaging materials.

Helping to reverse the trend
The production facilities are due to go into operation in 2024. They are expected to create 400 direct full-time jobs and five times as many indirect jobs. Around 3,000 people will also be employed during the construction phase. Jim Ratcliffe, CEO and Chairman of Ineos, said: "Our investment in a world-class ethane cracker and PDH plant is the largest of its kind in Europe for more than a generation. As such, it is an important development for the European petrochemical industry. We are convinced that this investment can reverse the declining trend of recent years in the European chemical industry."

Chemicals play an increasingly key role for Flemish industry
The investment strengthens the port of Antwerp's role as the largest chemical cluster in Europe. Frank Beckx, Managing Director of the Belgian chemical association essenscia vlaanderen, says: "The fact that, after Borealis last month, Ineos has now also chosen Antwerp as its location puts the chemical industry in Flanders on the world map more than ever. In particular, the construction of a state-of-the-art cracker is of great strategic importance, as the last time such a plant was built in Western Europe was in the 1990s."

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