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Story summary
- Ineos has received £120 million in UK government funding for the Grangemouth ethylene plant in Scotland.
- The funding preserves over 500 jobs in the Grangemouth area.
- Jim Ratcliffe, chief executive of Ineos, criticized government carbon taxes as disadvantaging UK industries compared with foreign competitors.
- The UK government faces political pressure after job losses from Ineos's earlier refinery closure.
- Additional investments in low-carbon initiatives at Grangemouth are expected to create new jobs by 2030.
