British company to invest 2.7 bn euro in Antwerp port

BRUSSELS, Jan 14 (KUNA) -- The British chemical company Ineos is to build two new factories in the port of Antwerp in Belgium, local media reported Monday.
The 2.7 billion euro (USD 3 billion) investment will be the biggest in the European chemical industry in two decades. The two factories will employ 500 people , the Belgian newspaper daily 'De Tijd reported. The factories should b ready by 2023 and they will produce ethylene and propylene that are used as raw materials in the chemical and plastics industry. The CEO of Ineos Group Jim Ratcliffe will be in Antwerp on Tuesday to sign a "memorandum of understanding" at the Antwerp Port House, it added. (end) nk.rk