UK-based chemicals company Ineos will inject 3 billion euros ($3.4 billion) in an ethane gas cracker and propane dehydrogenation (PDH) facility in Antwerp, Belgium.
The new facility will be co-located with Ineos' existing polymers sites in Europe and will be connected by pipeline to ethylene and propylene derivative units in the region.
With this expansion plan, Ineos will bring significant benefits to Belgium and wider European communities and will take over unused parts of concessions held by neighbouring companies, ensuring maximum integration with the existing chemical industry.
The company said that the new production plants are expected to be operational by 2024.