Cracker to be sited at Antwerp
Ineos secures €3.5bn for green cracker project
Ethane cracker plant at port of Antwerp to use hydrogen generated as a byproduct of its own ethylene production
Chemicals company Ineos has secured loans totalling €3.5bn ($3.7bn) to help fund the construction and operation of its ‘Project One’ low-carbon ethane cracker at the port of Antwerp in Belgium. In total, 21 commercial banks, including ABN Amro, Barclays, ING and Deutsche Bank have lent to the project, which Ineos says will be Europe’s most sustainable cracker and the continent’s largest chemical sector investment for a generation. Ineos has put the total cost at €4bn. Construction of the project started in December, and commissioning is scheduled for 2026. “Project One is a game-changer for Europe,” says Jason Meers, CFO of the project. “It will bring new opportunities to the chemical cluste
Also in this section
13 December 2024
Prices in world’s largest compliance market have risen this year but remain below those seen in the EU
11 December 2024
Policymakers need to step up with a long-term, global strategy if the energy transition is ever to be a success
11 December 2024
CCUS and other carbon management technologies are gaining traction around the world, but heightened policy risk and other pressures will make 2025 a challenging year in some regions
10 December 2024
Tightened standards have helped improve the outlook for the voluntary carbon market, which is set for a record year and poised for long-term growth
