London-based chemicals company Ineos has chosen Port of Antwerp in Belgium as the location for location for a previously announced EUR3bn ($3.4bn) investment in two new petrochemical plants.
The company revealed plans last year to develop a propane dehydrogenation unit and an ethane cracker in Northwest Europe.
The new petrochemical complex will be co-located with Ineos’ 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.
The PDH unit alone will have a total capacity of 750,000 mt/year and is expected to commence operations in 2023.
“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. We believe this investment will reverse years of decline in the European chemicals sector,” said Sir Jim Ratcliffe, CEO and chairman of Ineos.