Earlier this year, INEOS announced that it would be investing EUR 2.7 billion to continue expanding its chemical plants. Various European locations were considered. After an elaborate selection procedure, the options were narrowed down to Rotterdam and Antwerp. Now, INEOS has decided to allocate the entire sum of EUR 3 billion to its factory at the Port of Antwerp. Key factors influencing the decision were its strategic location and the fact that Antwerp is home to one of the world’s largest chemical clusters, second only to Houston.

An initiative from Flanders Investment & Trade (FIT) and sector federation essenscia Vlaanderen, the recently launched Welcome Team for the Chemical Sector helped attract this major investment to Flanders. The Welcome Team brings together experts in several domains to highlight and explain Flanders’ assets in terms of innovation, fiscal matters and investment support.

INEOS’ investment isn’t the first major project to launch in Antwerp in recent years. “Including the British company’s investment, the Port of Antwerp has already attracted an impressive EUR 5.4 billion in investment projects in 2018 alone,” explains Jacques Vandermeiren, CEO of the Antwerp Port Authority. Some of the most recent chemical investments include the addition of a new aniline production unit by Covestro (Germany), the construction of a EUR 1 billion propylene plant by Borealis (Austria), and a EUR 350 million investment by Nippon Shokubai (Japan).