Antwerp port achieves highest European chemicals investment in 20 years, permanently within

Economy In the harbour house, Antwerp, the CEO of chemical group Ineos signed an agreement for a mega-investment of 3 billion euro in the port of Antwerp. The construction of two specialized plants will be 400 direct new jobs.

The British chemical company Ineos announced in July 2018 "Project One", a huge project worth 2.7 billion euros in the framework of the expansion of its chemiefabrieken. Various European ports were in the running, but ultimately the choice fell on Antwerp. With additional costs for infrastructure, the final investment amount to be 3 billion euros. This is the largest investment in the European chemical industry in twenty years time.

Ineos will be on its current site in Lillo and on adjacent land two build factories: a propaandehydrogenatiefabriek (PDH) and a ethaankraker. These should, respectively, of propane conversion into propylene, and ethane into ethylene, a raw material for other chemical products that find their way into many sectors such as the automotive, construction and clothing, cosmetics and personal care, pharmaceuticals, electronics and packaging materials.

The new production units are expected to be in 2024 will be taken into use. Once the plants are operational, they provide 400 direct full-time jobs. During the construction phase brings the project to 3,000 jobs.

Biggest investment

Jim Ratcliffe, CEO of Ineos, believes that his investment will help to remain competitive in the petrochemical industry. “Our investment in a ethaankraker and propaandehydrogenatiefabriek of a global scale is the largest in its kind in Europe since more than a generation and an important development for the European petrochemical industry. We believe that this investment will have a long downturn in the European chemical sector can return.”

Mayor Bart De Wever feels in her own words-pride and humility. “This investment shows that even in a time of brexitonzekerheid of confidence in economic growth, internationalization, and sustainable technology. In short: there is confidence in progress.”

In Flanders even the largest investment in twenty years across all sectors. “The dossier is also a beautiful illustration of a long-term cooperation between different ministers and governments, the sector federation, the port, with a common goal”, says Flemish minister-president Geert Bourgeois.