INEOS to invest £20million in new UK petrochemical headquarters

INEOS’ Olefins and Polymers business in the UK has announced it is to invest £20million in a new, state-of-the art headquarters at its Grangemouth site.

The company says the investment is just one part of its long-term plan for the chemicals site, which it intends to turn into a manufacturing hub for the whole of the Central Belt of Scotland.

“The site is undergoing a radical transformation with significant investment that will herald a new era in petrochemical manufacturing at Grangemouth,” commented John McNally, CEO INEOS Olefins and Polymers (O&P UK).

“Investment into the Chemicals business is in the order of £450m, which includes spend on this new office accommodation, restructuring of redundant assets as well as our ethane supply project. This represents the most significant investment into UK and Scottish petrochemical manufacturing of recent times and demonstrates INEOS’ commitment to the Grangemouth site, its employees and the local economy."

INEOS has started to clear the site of old unused buildings and decommissioned plants, stating that the new building will enable more productivity in its own operations, as well as benefitting the local area through the provision of long-term skilled jobs and investment opportunities. The new business HQ and office accommodation is scheduled for completion in September 2016. 

“We will make parts of our site available to new companies that will benefit from the services and infrastructure that we have to offer here at Grangemouth. We have a clear strategic view of the future, where Grangemouth is a growing centre of excellence, attracting new investment, creating new jobs and providing Scotland with the raw materials that it needs to support its manufacturing sector,” McNally concluded.