Two key components for Ineos’s future ethane cracker in Antwerp are currently stranded in Abu Dhabi because of disruption to maritime traffic, raising the risk of further delays to the multibillion-euro project.
Union sources said on Friday that the equipment, manufactured in Abu Dhabi, is being held on a ship because of the situation in the Strait of Hormuz.
They said the chances of a swift and unhindered passage were limited because Ineos is a British company. “Ships are waiting, and drones have already been spotted nearby,” the sources said.
The ethane cracker forms part of Project One, the British chemicals group’s major investment in Antwerp. It had been due to come into operation in mid-2027.
According to union representatives, the construction site was already running several months behind schedule because of subcontracting problems. They warned that the delay could now grow even longer.
They also questioned whether Ineos would still be able to secure transport from the Middle East under the current circumstances.
Asked for comment, Ineos declined to speak “because of the sensitivity of the situation.”
The plant is intended to produce ethylene, one of the most widely used basic chemicals in the world.
Project One is regarded as one of the biggest investments in the European chemicals industry in recent decades.
The British and Flemish governments have both provided guarantees for the project. London granted a €700 million guarantee, while Flanders provided a €500 million guarantee.
