ExxonMobil has suspended its investments at the Port of Antwerp, citing the lack of competitiveness in Europe for major projects.
According to the Belgian newspaper L’Echo, Jack Williams, Senior Vice President of ExxonMobil, emphasised that large-scale investments in Europe are no longer viable.
The company had planned to replace a portion of fossil-based raw materials at its refinery in Texas with plastic waste to produce recycled-content products. A similar chemical recycling project at Antwerp was intended but has now been paused.
A comparable project in Rotterdam has also been put on hold. Together, the two initiatives represented a €100 million investment.
In Antwerp, an authorisation to process 40,000 tonnes of plastic waste was only secured this summer. However, ExxonMobil’s headquarters never gave the green light for the final investment.
Williams criticised the EU’s approach, arguing it favours traditional mechanical recycling over chemical recycling, which can handle more complex waste streams. He also blamed other EU regulations, such as the new corporate due diligence law.
Earlier in September, the Financial Times reported the potential sale or closure of plants in Belgium, where ExxonMobil employs approximately 2,000 people.
