Chemical brothers bond for strength

Switzerland-based chemicals major Ineos Group Ltd is banking on its upcoming projects in China to drive growth in the rapidly changing global energy market.

China's huge petrochemicals market and steady demand are key factors propelling growth in the global markets, says Jim Ratcliffe, the 61-year-old founder and chairman of Ineos, the fourth largest chemicals company in the world in terms of revenue, after BASF, Dow Chemical and LyondellBasell. It is also the largest privately owned company in the United Kingdom

Ratcliffe says the eurozone crisis has made Europe's energy market uncompetitive, while the development of shale gas has opened up new investment opportunities in the US. China, on the other hand, is becoming increasingly self-sufficient in petrochemicals, he says.