Ineos will build the biggest new petrochemical plant in Europe for 20 years as it invests €3bn in Antwerp, the company said yesterday, in a move it hailed as a game changer for the sector.
The new propane dehydrogenation (PDH) plant will add to the UK's largest private firm's 2,500 employees in Belgium.
“Our 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,” said Ineos founder Sir Jim Ratcliffe.
“We believe this is a that will reverse years of decline in the sector.”
John McNally, the project’s chief executive, 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.”