Ineos Announces £150 Million Investment at its Grangemouth Site
Ineos is investing £150 million at its Grangemouth site, supported by a £75 million government loan guarantee and a £50 million grant.
Ineos has today announced a major £150 million investment to underpin the long-term future of its Grangemouth site in Scotland, one of the UK’s most important industrial assets and a critical hub for the nation’s manufacturing and energy sectors.
Supported by the UK government and facilitated by NatWest Group, the investment will upgrade key production units, improve energy efficiency, reduce emissions, and enhance the site’s competitiveness.
Grangemouth has long been at the heart of Scottish and UK industry. These investments maintain the site and more than 500 highly skilled direct jobs, as it continues to supply essential raw materials that are vital to the UK economy. The facility supports industries such as food packaging and housing insulation to automotive parts, hospital equipment, medicines, and sustainable technologies.
Sir Jim Ratcliffe, CEO, Ineos, said: “The £150m investment in the future of a major UK industrial site demonstrates INEOS’ commitment to British manufacturing. The support of the UK Government is welcome. However, we need to continue to work together to deliver competitive and efficient low-carbon manufacturing for the UK, long term. The answer is NOT decarbonisation by deindustrialisation. Without a strong manufacturing base, the economy will continue to decline. High energy costs and punitive carbon charges are driving industry out of the UK at an alarming rate. If politicians want jobs, investment and energy security, then they must create a competitive environment.”
Two-thirds of British manufacturing has disappeared in the last 25 years alone, while during that same period, the UK population has risen by more than 10 million. Demand for the foundational materials that critical sectors depend on will not subside. Without domestic manufacturing capacity, they will need to be imported, often at a higher cost, while delivering no economic or environmental benefit.
The programme of investments at Grangemouth forms part of a broader Ineos strategy to invest in modern, efficient, lower-emission industrial facilities across its portfolio. It reinforces Ineos’ long-term commitment to operating world-class assets in the UK.
