Government invests £120m to save UK’s last ethylene plant

Funding for billionaire Jim Ratcliffe’s Ineos site in central belt of Scotland will help safeguard 500 jobs

Jim Ratcliffe’s chemicals company Ineos has been granted £120m of government funding to help save the UK’s last ethylene plant at Grangemouth, in a deal expected to protect more than 500 jobs.

The investment in the Scottish plant was necessary to preserve a vital part of the country’s chemicals infrastructure, the UK government said. The ethylene produced there was essential for medical-grade plastics production, water treatment and in aerospace and car-building, it added.

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Source: www.theguardian.com

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