Scottish Enterprise backs productivity push at Ineos – Daily Business
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Ineos O&P will upgrade its furnace
Scottish Enterprise has provided £5 million to chemicals company Ineos O&P UK to improve productivity and emissions at its Grangemouth site.
The funding will support the installation of a more efficient furnace – known as Furnace 10 – safeguarding more than 100 jobs at the site, the base for its olefins and polymers chemical production.
The new technology will enhance the facility’s productivity and reduce its carbon emissions by up to 25,600 tonnes of CO2e a year.
Additionally, the Furnace 10 project supports the site’s ongoing competitiveness and helps maintain its central role within Scotland’s manufacturing base and the wider UK chemicals supply chain.
Jan Robertson, managing director of energy transition and transformational programmes at Scottish Enterprise, said: “Our funding has helped INEOS O&P UK to complete an important project.
“We’re working with companies, government and our partners to invest in Grangemouth. Through our work leading the Grangemouth Future Industries Board we are progressing a number of important projects to strengthen the cluster’s global competitiveness, promote and enhance its innovation capabilities and support its transition towards a more sustainable, low carbon future.”
Nick Williamson, CEO INEOS O&P UK, said: “We welcome the support from Scottish Enterprise. The Furnace 10 Project has delivered a significant strategic strengthening of the performance of the UK’s only ethylene manufacturing plant.
“Its advanced design brings Best Available Technology, supports lower energy intensity and reduced CO₂ emissions, while delivering the additional capacity needed to meet sales commitments.”
The Scottish Enterprise funding builds on wider public and private sector support to protect chemical production and jobs at the INEOS O&P UK site. Last December the UK Government announced joint investment with the company of £150 million.
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