A Rare Vote of Confidence: INEOS to Invest €250 Million in French Cracker Plant

To address the ongoing wave of cracker shutdowns across Europe, INEOS has announced a €250 million investment to upgrade its cracker facility in Lavéra, France, aiming to improve energy efficiency, enhance reliability, optimize operations, and reduce emissions. At the same time, the company’s “Project One” in Antwerp, Belgium, is progressing steadily.

The upgrade plan will be implemented with the support of the French government and financed by BNP Paribas and ING. INEOS stated that this marks the first phase of a broader revitalization plan “aimed at enhancing the long-term competitiveness and sustainability of the Lavéra plant.”

Jim Ratcliffe, Founder and Chairman of INEOS, said: “France has demonstrated true industrial leadership. The government understands that without a strong manufacturing base, Europe will struggle. We are investing in Lavéra because we believe in this land, its people, and its future—but Europe must wake up.”

Sébastien Martin, representing the French Ministry of Industry, commented: “INEOS Group’s €250 million investment further demonstrates its confidence in French industry. With national support, the Lavéra plant will become a symbol of France’s commitment to local production, innovation, and investment. This is exactly how we strengthen strategic autonomy, improve competitiveness, and create jobs.”

The Lavéra plant currently employs around 2,000 people directly and supports over 10,000 jobs through its supply chain. Its products serve nearly every manufacturing sector, including healthcare, pharmaceuticals, aerospace, transportation, food packaging, clean energy, and advanced technologies.

Rob Ingram, CEO of INEOS Olefins & Polymers Europe, stated: “This investment is crucial to supporting the ongoing operation of the Lavéra plant. The facility is not only a key part of the French economy but also a critical node in the European industrial chain. The project will safeguard jobs, improve performance, and reduce emissions, demonstrating INEOS’s commitment to France and its determination to retain essential production in Europe.”

Currently, the European chemical and polymer industry faces immense pressure from high energy costs—three to four times those in the U.S. and China—while bearing the full cost of carbon emissions. Several European plants have already been forced to close. INEOS warns that unless Europe restores competitiveness, industrial decline will accelerate.

The Lavéra revitalization plan is seen as a vote of confidence in French and European manufacturing—showing that, with the right policy support, industry can remain competitive, advance decarbonization, and continue to create jobs while producing the essential products on which the European economy depends.