PROJECT ONE. RAISING THE BAR FOR THE CHEMICALS INDUSTRY.
Building the most energy-efficient facility in Europe
The €3 ($3.65) billion investment will be the biggest ever made by INEOS and is the first cracker to be built in Europe in 20 years, reversing years of decline in the European chemicals sector.
The investment is a game changer for the European chemical sector and will bring huge benefits to Belgium, where it is located and wider European economies.
It is hoped that other European chemical companies will follow suit, replacing old, outdated technology with energy-efficient systems with low emissions.
Sir Jim Ratcliffe, Founder and Chairman of INEOS said: “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 sector.”
With Project ONE, the port of Antwerp will soon have the most energy-efficient ethylene cracker in the whole of Europe and a world-scale PDH unit. In this way, INEOS will ensure that it becomes an absolute pioneer in the increasingly sustainable chemical sector.
The products made on these two plants are essential building blocks to make important chemicals and polymers used in wind turbines, solar panels, medication (blood bags, sterile packaging, MRI scans…), building materials (water and gas pipelines that last at least 50 years), textiles, light car parts, etc.
The most important investment in the European chemical industry in 20 years:
Vital to counter the risk of decline of the European chemical sector
Strengthens the Port of Antwerp's position as a chemical cluster
Creating 450 permanent jobs, fivefold in indirect jobs and 3,000 jobs during the realization phase
A new generation of installations in terms of energy efficiency and environmental footprint