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Major European port secures huge investment in gas facility

Europe's largest petrochemical company, Ineos, will spend USD 3.36 billion on installing a huge gas facility in the Port of Antwerp. "We believe this investment will reverse years of decline in the sector," says CEO Sir Jim Ratcliffe.

Photo: Port of Antwerp/PR

Ineos will spend EUR 3 billion on a gascracker plant and a propane-dehydrogenation (PDH) unit in the Port of Antwerp, announced the Swiss company in a press release Wednesday.

The investment is Ineos' largest ever. According to the company, it spells positive news for both the Belgian economy and the European petrochemical sector:

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