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
18 February 2025
Demand for CCS to abate new gas-fired plants is rising as datacentres seek low-carbon power, Frederik Majkut, SVP of industrial decarbonisation, tells Carbon Economist
11 February 2025
Rising prices have added to concerns over CBAM impact on the competitiveness of EU manufacturing
7 February 2025
Norwegian energy company slashes spending on low-carbon sectors as transition decelerates
30 January 2025
The UAE’s oil and gas company puts its faith in technologies including CCS and AI to deliver its emission-reduction goals