Ineos to make €2.7bn investment in 2 chemical plants in Europe

Chemical giant Ineos yesterday announced its intention to invest €2.7bn in two petrochemical plants. As a matter of fact, this is the largest investment ever made by the company, whose founder, billionaire Jim Ratcliffe, is one of the richest men in Europe. The two facilities are to be built in Northern Europe and will use US shale gas. According to the press release, Ineos’ building sites will soon be announced, however they are likely to be Cologne and Antwerp, since both cities have large pipeline networks. Ineos already owns two working plants which use American shale gas, one in Grangemouth, Scotland, and the other in Rafnes, Norway.

 

(Source: Ineos)