February 19, 2026 15:12
To upgrade the Lavera petrochemical complex in France, Ineos will receive €300 million in funding, to be paid in 15 annual instalments by the French government.
This is in addition to the €250 million allocated by the UK chemicals group at the end of last year, also with government backing and support from BNP Paribas and ING (read article).
The state support falls under the “Appel d’Offres Grands Projets Industriels de Décarbonation” (AO GPID) programme, part of the France 2030 investment plan managed by Ademe.
The measures – Ineos explains – are intended to increase the profitability of the petrochemical hub and cut carbon dioxide emissions by 331,000 tonnes per year, “with a clear pathway to net zero as electrification and carbon capture technologies mature”.
The investment will also support France’s circular economy objectives by enabling the steam cracker to use more sustainable feedstocks derived from the chemical recycling of plastics and bio-based materials, replacing fossil-based inputs.
Sir Jim Ratcliffe (pictured), founder and CEO of the Ineos Group, said: “It starts with protecting skilled jobs. The answer is not decarbonisation by deindustrialisation.”
“We are investing because France understands that a strong industrial base matters. Securing essential materials at home, rather than importing them from China or the United States, is simply common sense.”
“This investment,” he concludes, “gives Lavera long-term resilience, sharpens its competitiveness and renews technology that cuts emissions by 331,000 tonnes a year. That is real industrial leadership. Europe needs a lot more of it if it wants to keep jobs, investment and sovereignty.”
Under the “Appel d’Offres Grands Projets Industriels de Décarbonation”, the state aid – in the form of non-repayable annual grants over a 15-year period – is explicitly linked to measurable CO2 reductions. Companies benefiting from the scheme must demonstrate verified emissions cuts by 2035 against a baseline, in line with EU state-aid rules and France’s climate targets.
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