The industrial clustering process in the chemical industry is becoming progressively more important due to economic, social and political issues. Industrial clustering means agglomeration of companies in the same geographical area in order to increase productivity and reduce costs. Nonetheless, clustering also has some important safety and security implications. The aim of this study is twofold: firstly, the development of an algorithm for the classification of chemical industrial clusters with regards to safety and security risks. Secondly, considering the importance of a multi-plant safety and security management system, highlighting the greater efficiency in the reduction of risk where adequate cooperation exists. The methodology is divided in three main steps, namely, “selection” (of the chemical parks to be processed), “assessment” of average hazard and vulnerability of installations within the cluster area, followed by an analysis of the relationships within companies in terms of strategic and operational cooperation, and “ranking”. The last step evaluates the strong influences of the above-mentioned parameters through the analytic network process (ANP) and leads to a final classification.