Scots refinery owned by Leave backer set to benefit
A GIANT oil refinery owned by one of Britain’s richest men is set to benefit from Boris Johnson’s £300million funding boost for the devolved nations.
The Grangemouth site is expected to be handed public cash to help it grow and secure its future as part of the new regional ‘growth fund’ announced last week by the Prime Minister.
Investment at the site, owned by Brexit-supporting Sir Jim Ratcliffe’s firm Ineos, will be part of Falkirk Council’s proposals for its regional deal.
Mr Johnson announced Falkirk, the Scottish islands, Argyll and Bute and two areas in each of Wales and Northern Ireland, would share the windfall.
Council leaders are remaining tightlipped about the exact nature of the proposals for Grangemouth, but say they will focus on efforts to attract investment and enable future growth.
It is understood that the investment will also focus on trying to tackle its environmental impact. Green groups said any public cash handed to the refinery must help address the ‘climate emergency’ facing Scotland.
A Falkirk Council spokesman said: ‘The Falkirk region includes Scotland’s largest petrochemical complex, its largest container port, its principal vehicle manufacturer and internationally recognised tourist attractions at the Kelpies and Falkirk Wheel.
‘We are seeking growth deal funding support from the Scottish and UK governments to maximise the potential of our assets, attract new investment and enable future growth.’
Falkirk Council representatives have been discussing measures with Ineos which will help boost its environmental credentials and as an ‘environmentally cleaner’ site, as well as help safeguard its longer-term future.
Scottish Secretary Alister Jack said: ‘It’s fantastic news that the Prime Minister has committed to ensuring that every part of Scotland benefits from UK Government Growth Deals.
‘We will work to ensure these, as with the existing deals, will be focused on supporting local priorities and needs.
‘The UK Government has already committed nearly £1.4billion to City, Region and Growth deals in Scotland. Eight are already in place and work to sign a ninth in Moray is under way.
‘I look forward to every area of Scotland benefiting from the boost to jobs, growth and opportunities that the deals are delivering.’
Ineos has been at loggerheads with the Scottish Government’s decision to ban fracking.
It took the case to the Court of Session after claiming the ban was ‘unlawful’, but the challenge was defeated.
Friends of the Earth Scotland head of campaigns Mary Church said: ‘Any public spending through regional growth deals should be directed towards renewable energy projects and the circular economy, for example plastic recycling or public transport infrastructure.’
An Ineos spokesman said: ‘As a good custodian and neighbour we regularly talk to Falkirk Council and update them on issues concerning Grangemouth, as well any plans we have for the future of the site.’