Sir Jim Ratcliffe faced criticism after remarks about immigration costs while his industrial empire seeks substantial public financial support.
The billionaire said the UK had been “colonised” and warned the situation was “costing too much money,” later apologising for his language.
The comments arrived as his chemicals and manufacturing conglomerate continues lobbying for government backing across several major projects.
Ineos has secured grants and guarantees worth about €800 million from UK and European authorities during a prolonged sector downturn.
The controversy therefore drew attention to the relationship between public funding and private corporate operations.
The UK government recently provided £120 million support for the Grangemouth petrochemical site following earlier aid packages and loan guarantees.
Ineos will contribute £30 million itself while the refinery complex had already received up to £70 million over the previous four years.
The company is also pursuing additional public backing tied to plans for a major Manchester United stadium redevelopment.
French authorities have partly guaranteed funding connected to a €250 million investment at the Lavera refinery in southern France.
Meanwhile, a €700 million export credit guarantee supported financing for a large petrochemical complex in Antwerp.
Rising energy prices and global competition have pushed parts of the chemicals industry into losses across Europe.
Ratcliffe previously warned that carbon taxes and trade conditions risk the “deindustrialisation of Europe” and could be “unsurvivable” for manufacturers.
Credit rating agencies have highlighted concerns over the group’s more than £18 billion combined borrowing across its main holding companies.
Industry observers say restructuring talks with lenders could include covenant relief to manage repayment schedules.
Job reductions have already occurred across some divisions while recovery hopes rest partly on the delayed Antwerp complex project.
An Ineos spokesperson said the company invests heavily in infrastructure and that public support schemes are standard for major industrial projects.
• Debt exceeds £18 billion across group entities
• Energy costs weigh on European producers
• Future recovery linked to major project approvals
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