INEOS PLANS £60M SPEND
Chemicals giant Ineos has announced plans to pump £60million into expanding its Grangemouth plant in Scotland.
The firm said it wanted to add a new ethylene furnace – built by a German contractor – at the site.
Ineos said the move had been made possible because of securing shale gas supplies from the US.
Chief executive John McNally said: “Production from Grangemouth provides vital raw materials used extensively throughout UK industry.”
Ineos is controlled by Britain’s richest man, Sir Jim Ratcliffe, who caused a storm last month after it emerged he was leaving the UK to live in Monaco, despite being a leading Brexit supporter.