INEOS' Project One site in Antwerp has already received its first major ‘landmark’: the ethane tank | INEOS, 5 June 2024

Antwerp, Belgium – June 10, 2025

INEOS has officially announced that its landmark €4 billion Project ONE ethane cracker in the Port of Antwerp has reached 70% completion, marking a major milestone for what is described as Europe’s largest chemical investment in a generation.

The announcement was made during a site visit by Belgian Prime Minister Bart De Wever, hosted by INEOS Chairman Sir Jim Ratcliffe. The event highlighted the scale and significance of the
project, which now employs over 2,500 workers on site as construction activity peaks.

"The visit marks a significant milestone for the project, which has now reached 70% completion and employs over 2,500 people on site. Construction is progressing at full pace, with major equipment, including giant furnaces and modular plant components, already installed. Civil works are nearing completion, and utility integration is well underway,” the official INEOS statement reads.

Commissioning and Outlook

Commissioning of Project ONE is scheduled to begin in autumn 2025, with mechanical completion anticipated by the end of 2026. Start-up of the facility is targeted for early 2027. The project is expected to create 450 high-quality permanent jobs and thousands more during the construction phase.

Sustainability and Innovation

Project ONE is designed to set new standards for sustainability in the European chemical sector. The ethane cracker will have a carbon footprint less than half that of the best-performing steam crackers in Europe, thanks to advanced technologies such as ultra-low NOx burners and the capacity to operate on low-carbon hydrogen from day one. The facility will be able to meet 60% of its heat demand with low-carbon hydrogen, with the potential to switch to 100% hydrogen as supply becomes available.

Strategic Importance

Sir Jim Ratcliffe emphasized the project’s strategic importance for Europe’s industrial future, noting that Project ONE is the first new cracker in Europe in a generation. Prime Minister Bart De
Wever praised the project’s progress and its role in reducing CO₂ emissions while supporting the region’s prosperity.

Conclusion

With 70% of construction completed and commissioning on the horizon, Project ONE is on track to transform the industrial landscape of Antwerp and set a benchmark for sustainable chemical production in Europe. The project continues to attract attention as a model for innovation, sustainability, and economic growth in the region.

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