The Vioneo billion-dollar factory will be built in China instead of Antwerp, the company announced on Friday, prompting concern from Antwerp’s port authority about structural industry challenges.
Belgium’s chemical sector has long faced difficulties, with recent years marked by warnings and project cancellations from major companies.
Port of Antwerp-Bruges cited Vioneo’s decision as another sign of the mounting existential challenges facing European industry.
The core issue, according to the port authority, is a poor investment climate for industrial projects, stemming from high risks and uncertainties tied to venture capital.
Costs associated with environmental remediation and regulatory compliance further discourage investment, they noted.
Complex and lengthy permitting processes are another barrier, with procedures often taking several years in Europe compared to faster timelines abroad.
European regulations like the Emissions Trading System (ETS) add pressure, particularly when competing with regions that allow imports with lower standards, explained the port.
Industries such as chemicals have long lobbied for adjustments to mechanisms like the Carbon Border Adjustment Mechanism (CBAM) to level the playing field.
Even innovative, environmentally friendly projects face stringent requirements and additional costs, despite their potential to significantly reduce emissions compared to traditional methods.
Vioneo stated that building the factory in China would generate far lower CO2 emissions than in Antwerp due to better access to green methanol supplies.
