- INEOS launches a major investment at Lavera to regenerate and modernise one of France’s most important industrial sites, safeguarding 10,000 jobs.
  - The project marks the first phase of a long-term regeneration plan to reduce emissions, boost reliability, efficiency and competitiveness, with support of the French State.
  - INEOS maintains calls for a level playing field for European industry, warning that high energy prices and carbon costs are driving closures and putting Europe’s manufacturing base at risk.

INEOS has today announced a €250m investment programme to regenerate and modernise its cracker at Lavera as part of a bold move to secure the future of one of France’s most important industrial sites and safeguard thousands of jobs.

With backing from the French Government, and facilitated by BNP Paribas and ING, INEOS is investing in the site to improve reliability, boost efficiency and cut emissions. It marks the first phase of a wider regeneration plan designed to strengthen Lavera’s long-term competitiveness and sustainability.

Sir Jim Ratcliffe, INEOS Founder and Chairman, said: “France is showing real industrial leadership. The government understands that without a strong manufacturing base, Europe will falter. INEOS is investing in Lavera because we believe in the site, its people and its future but Europe must wake up. High energy prices, over-regulation and punitive carbon costs are destroying its industrial backbone. If politicians want jobs, investment and energy security, they must create the conditions for industry to compete. It is as simple as that!”

Sébastien Martin, Minister Delegate for Industry, said: "With this €250 million investment, INEOS reaffirms its confidence in France’s industrial sector. Thanks to the support of the State, Lavera becomes the symbol of a nation that chooses to produce, innovate, and invest on its own soil. This is how we strengthen our independence, our competitiveness, and our jobs."

The Lavera site employs around 2,000 people directly and more than 10,000 through its supply chain. It produces essential raw materials used across almost every manufacturing sector from healthcare and pharmaceuticals to aerospace, transport, food packaging, clean energy and advanced technologies.

Rob Ingram, CEO of INEOS Olefins & Polymers Europe, said: “This is a vital investment to support continued operations at Lavera, a vital part of the French and European economy. It is about safeguarding jobs, improving performance, cutting emissions. It’s a strong signal of INEOS’ commitment to France, and to keeping essential production in Europe.”

The European chemicals and polymers sector continues to face severe pressure from high energy prices which are three to four times that of China and the USA, and from carbon costs that are only paid in Europe. Multiple plants have already closed across the continent. INEOS warns that unless Europe restores competitiveness, industrial decline will accelerate.

Future phases of the Lavera regeneration programme will deliver further efficiency gains and major CO₂ reductions but will require further support from the French State to bring these plans to fruition.

The Lavera regeneration programme is a vote of confidence in France and European manufacturing – proof that with the right support, industry can thrive, decarbonise, and deliver the jobs and products Europe depends on.

About the investment

The €250m investment made by INEOS at Lavera is partially guaranteed by Bpifrance Assurance Export, a subsidiary of Bpifrance acting in the name of, on behalf of, and under the control of the French State, through the Strategic Projects Guarantee (GPS). The GPS is a state-backed loan guarantee designed to facilitate the financing of projects that are strategically important to the French economy.

About INEOS Olefins & Polymers Europe

INEOS Olefins & Polymers Europe has the capacity to manufacture over 8.5 million tons of chemicals and polymers at eight sites. These are used to produce a wide range of derivative products that both enable and enhance many aspects of life today. From a broad technology base, the business can produce polymers specifically tailored to provide high value solutions to customers in its chosen market sectors. In April 2024, INEOS completed the acquisition of TotalEnergies' 50% share of Naphtachimie (steam cracker), Appryl (polypropylene business), Gexaro (aromatics business) and 3TC (naphtha storage) in Lavera, France. The businesses had been joint ventures between the two companies. A number of other infrastructure assets were also acquired including part of TotalEnergies’ ethylene pipeline network in France.

About Bpifrance Assurance Export

Bpifrance Assurance Export is a subsidiary of Bpifrance, acting in the name of, on the behalf of, and under the control of the French State.

Bpifrance is the French national investment bank: it finances businesses – at every stage of their development – through loans, guarantees, equity investments and export insurances. Bpifrance also provides extra financial services (training, consultancy) to help entrepreneurs meet their challenges (innovation, export…).