US EditionUK to provide financial support to save its last ethylene plant
The £150 million investment protects 500 jobs, supports supply chains for plastics and advanced manufacturing, and includes government safeguards with profit-sharing rights, officials said.
- The UK government and Ineos are investing a combined £150 million to secure the Grangemouth plant and protect 500 jobs.
- The plant produces ethylene, a key ingredient for plastics used in advanced manufacturing, using imported shale gas from the United States.
- Unions have accused both governments of taking action too late to support the chemical industry facing high energy costs and potential closures.
26 Articles
26 Articles
UK to provide financial support to save its last ethylene plant
The British government said on Wednesday it will provide financial support to safeguard chemical production and hundreds of jobs at Grangemouth, the country's last ethylene plant, in a partnership with chemicals group INEOS.
Christmas cheer for Britain's biggest chemical plant, but there are two distinct problems
The government has just announced it's spending more than £120m to bail out the country's last chemical plant at Grangemouth in Scotland. While this package will undoubtedly provide some Christmas cheer, it may not last for long.
UK Government £150m deal secures Grangemouth ethylene plant
The UK government has partnered with INEOS in a £150 million joint investment to secure the future of Britain’s last ethylene plant at Grangemouth, protecting around 500 jobs at the site and hundreds more across the supply chain. Under the agreement, the government will provide more than £120 million in support alongside a multimillion-pound commitment from INEOS, which has already spent over £100 million maintaining operations at the plant over…
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