Ineos to invest EUR250 mn to upgrade French cracker
Chemical firm Ineos has announced a EUR250 million investment programme to regenerate and modernise its cracker at Lavera as part of a move to secure the future of one of France’s most important industrial sites and safeguard thousands of jobs, it adds.
With backing from the French Government, and facilitated by BNP Paribas and ING, Ineos says it is investing in the site to improve reliability, boost efficiency and cut emissions. It marks the first phase of a wider regeneration plan designed to strengthen Lavera’s long-term competitiveness and sustainability.
Sir Jim Ratcliffe, Ineos Founder/Chairman, said: “France is showing real industrial leadership. The government understands that without a strong manufacturing base, Europe will falter. Ineos is investing in Lavera because we believe in the site, its people and its future but Europe must wake up. High energy prices, over-regulation and punitive carbon costs are destroying its industrial backbone. If politicians want jobs, investment and energy security, they must create the conditions for industry to compete.”
The Lavera site employs around 2,000 people directly and more than 10,000 through its supply chain. It produces essential raw materials used across almost every manufacturing sector from healthcare and pharmaceuticals to aerospace, transport, food packaging, clean energy and advanced technologies.
The European chemicals and polymers sector continues to face severe pressure from high energy prices which are three to four times that of China and the US, and from carbon costs that are only paid in Europe. Multiple plants have already closed across the continent. Ineos warns that unless Europe restores competitiveness, industrial decline will accelerate.
Future phases of the Lavera regeneration programme will deliver further efficiency gains and major CO2 reductions but will require further support from the French State to bring these plans to fruition.
The Lavera regeneration programme is a vote of confidence in France and European manufacturing – proof that with the right support, industry can thrive, decarbonise, and deliver the jobs and products Europe depends on.
