Ineos founder calls on eu to protect european chemical industry

• Nearly 200 chemical plants in Europe have been shut down over the past five years.
• China’s chemical industry has overexpanded capacity and is dumping excess products into Europe at low prices; its imported products are said to have a carbon footprint twice that of European-made products.
• The Antwerp ONE project involves a total investment of EUR 5 billion to build an ethylene plant, with carbon emissions only one-third of those of other cracker units in Europe.
• The ONE project did not receive any EU subsidies and does not meet the eligibility criteria for the EU Innovation Fund; Ratcliffe calls for the €30 billion EU carbon market investment boost fund, trade guarantees, and industrial acceleration legislation to cover the chemical industry.

Industries are under pressure, and factories are shutting down one after another.

INEOS founder Jim Ratcliffe warned that Europe’s chemical industry is currently “in an extremely difficult მდგომარეობა” and is in the midst of a wave of large-scale shutdowns. Data show that nearly 200 chemical manufacturing plants have ceased operations over the past five years. He stressed that chemicals are a critical strategic industry underpinning the security of core sectors such as healthcare, food, and defense, and that the industry as a whole employs 1 million people.

Market competition pressure from China.

ONE Project and EU Support Policy

Policy Demands