Thursday, 29 February 2024

UK gives £600m backing to Jim Ratcliffe’s ‘carbon bomb’ petrochemical plant

Campaigners say Ineos project in Antwerp will turbocharge plastic production on a scale not seen before in Europe

The UK government is providing a €700m (£600m) guarantee for the billionaire Jim Ratcliffe to build the biggest petrochemical plant in Europe in 30 years that will turbocharge plastic production.

The huge petrochemical plant has been described as a “carbon bomb” by campaigners. Being constructed in the Belgian city of Antwerp by Ratcliffe’s company Ineos, it will bring plastic production to Europe on a scale not seen before, just as countries are trying to negotiate a binding global treaty to tackle the growing problem of plastic pollution.

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from World news | The Guardian https://ift.tt/mkbIwQR

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Taiwan president's Hawaii trip draws Chinese anger

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