Ineos invests £60m to expand production at UK Grangemouth site
Chemicals firm Ineos today said it was making a major £60m investment to expand production at its site in Grangemouth, Scotland.
It will build an additional furnace at the 1,700 acre ethylene plant to improve the efficiency and capacity of the facility.
In a statement, Ineos said the investment showed its commitment to British manufacturing at a time when the industry is in decline.
The news follows an announcement last summer that the firm would boost the amount of ethylene it produces at Grangemouth and in Norway.
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"Our plans to invest in the UK with the further expansion of our plant at Grangemouth, has been made possible because we now have access to the raw materials that we need," said John McNally, Ineos chief exec. "The successful completion in 2016 of our project to bring to Grangemouth plentiful supplies of competitive US shale gas ethane over a long-term agreement, has breathed new life into the plant.
"Production from Grangemouth provides vital raw materials used extensively throughout UK industry. Having additional furnace capacity, will provide a range of future opportunities not just for Ineos and for the site but also for the heartlands of manufacturing in Scotland and the North East and North West of England.”