Multi-billion euro investment in the port of Antwerp by British company?

The British chemical giant Ineos is set to invest 2.7 billion euro in two new factories at the port of Antwerp. The news appears in Saturday’s edition of the financial daily ‘De Tijd’. The paper reports that the investment will be the biggest investment by a European chemical company in 20 years and the biggest ever investment by Ineos.

The two new factory will create around 500 new jobs.  The Antwerp Alderman Annick De Ridder (Flemish nationalist) who only took on responsibility for the Port of Antwerp earlier this week has confirmed that talks with Ineos are in an advanced stage.  

"This is a very large and important investment for Antwerp’s port”, Ms De Ridder said.

However, as talks are still ongoing Ms De Ridder won’t give any more details about, for example, the size of the investment or the number of jobs that might be created.

"We hope to be able to say more soon”. 

Antwerp given preference over Rotterdam

The two new factories would produce the base materials to make plastics or insolation material. ‘De Tijd’ reports that Ineos was also in talks with the Dutch port of Rotterdam. However, the company is reported to have chosen Antwerp due to its location.

Much of what would be produced at the new factories would be destined for chemical companies in and around Antwerp. The construction of the factories will take 4 to 5 years.