BELGA/WAEM

Ineos announces 2.7 billion euro investment at the port of Antwerp

The British chemical company Ineos has announced that it is to build two new factories in the port of Antwerp. The 2.7 billion euro investment will be the biggest in the European chemical industry in two decades. The two new factories will employ a total of 500 people. 

The factories will be built in the port area on the Left Bank of the River Schelde. They will produce ethylene and propylene that are used as raw materials in the chemical and plastics industry.   

The financial daily ‘De Tijd’ reports that the two factories should be ready in 2023. 500 people will be employed at the factories and as many as 3,000 to 4,000 construction workers will be employed building them.

The CEO of Ineos Group Jim Ratcliffe will be in Antwerp on Tuesday to sign a “memorandum of understanding” at the Antwerp Port House.