A £7.5 mln government grant to upgrade Ineos’ Grangemouth refinery

04-Jun-09

The Scottish government has granted £7.5 mln to upgrade Ineos’ oil refinery in Grangemouth towards modernisation of the Kinneil Gas flex project to boost the processing of natural gas pumped into the plant from the Forties Pipeline. This move will aid in saving about 500 jobs and will allow Ineos to fully utilise a wider range of the gases extracted from the North Sea. This grant is in addition to a £100 mln investment made by Ineos. Ineos Grangemouth complex employs over 1300 people, produces almost all of Scotland's vehicle fuel, generates £9.3 bln in revenue for Scotland and pegs Scotland's chemical industry as the second highest export earner, creating about £1.9 bln of business.