Chemicals giant Ineos has been given £600million of UK Government support for a factory in Belgium – despite plans to shut Scotland’s only oil refinery.
And we can reveal the UK Government has failed to take action to secure a future for the massive plant near Falkirk – while providing a £600million loan guarantee to Ineos for a chemicals site in Antwerp, Belgium. “The simple truth is that you cannot have energy security from oil production which is refined abroad. Grangemouth offers that energy security and that is why investment and decisive action are needed now to secure its future.
The huge site in Antwerp will massively increase European plastic production and it is argued the development will support UK manufacturing jobs. It comes despite Defence Secretary Grant Shapps recently stating “energy security is national security” in the wake of Russia’s invasion of Ukraine causing rocketing gas and electricity prices.He said: “I want the life of Grangemouth to be extended. The plant is profitable and a fraction of the revenue from North Sea oil would secure it’s future. The UK Government and the Scottish Government should be doing much more to protect this key national industrial asset.
Plans were revealed in November to shut the refinery, with sources saying it was “not be economically” viable to save.