£560m industry boost

TWo of the UK’s industrial plants have received £560m of investment.

Us oil giant exxon Mobil is set to plough £500m into its refinery in hampshire, while Ineos is splashing out £60m on a tenth furnace at its chemicals plant in Grangemouth. Both companies said their projects would help increase production capacity.

Ineos wants to develop a fracking industry in the UK rather than rely on gas shipped from America.

Boss John Mcnally said: ‘Production from Grangemouth provides vital raw materials used extensively throughout UK industry.’