500 Jobs Secured at Grangemouth as UK Government and INEOS Partner to Safeguard Plant’s Future.
London:
The future of the Grangemouth industrial complex has been secured with 500 jobs protected, following a major partnership between the UK Government and INEOS aimed at safeguarding vital chemical production at the site. The government has committed over £120 million as part of a £150 million joint investment package, reinforcing Grangemouth’s role as a key pillar of the UK’s industrial and economic resilience.
The funding is designed not only to protect existing operations but also to support new growth opportunities at Grangemouth. Several projects are already under active consideration, with around 140 investment enquiries received, highlighting strong interest in the site’s long-term potential.
In a further boost to Scotland’s green and industrial economy, it was announced last week that around 310 jobs will be supported over the next five years by Scottish company MiAlgae. The firm has begun construction of its first commercial-scale manufacturing facility, which will convert whisky waste into fish-free Omega-3 products. The project is backed by £3 million in combined UK and Scottish government funding and represents a significant step toward sustainable manufacturing and circular economy practices.
Meanwhile, to support workers affected by the planned closure of the ExxonMobil Mossmorran plant in February 2026, the UK Government, Scottish Government, and Fife Council will establish a dedicated taskforce. The taskforce will focus on ensuring affected employees have the best possible opportunities to transition into well-paid and skilled employment.
The Grangemouth Training Guarantee will also be expanded to include workers who provided shared services to the refinery, helping to open up new training and employment pathways across surrounding communities.
UK Prime Minister Keir Starmer stated that “When I said I’d protect jobs and invest in Britain’s future, I meant it. We have protected 500 jobs at Grangemouth. Delivering opportunity and investment for the next generation of Scottish workers.”
Addressing broader challenges facing industry, the UK Government is working to reduce high industrial energy costs through its modern Industrial Strategy, launched in June. Measures include increasing the electricity cost discount for eligible businesses from 60% to 90% under the British Industrial Supercharger scheme, and consulting on the new British Industrial Competitiveness Scheme (BICS). Once implemented, BICS is expected to cut electricity costs by up to 25% for more than 7,000 UK businesses.
Commenting on the development, Robert Begbie, CEO Commercial & Institutional at NatWest, said:
“As the UK’s biggest bank for business, accelerating regional growth is a key priority for us at NatWest. We know that this vital funding will support INEOS Grangemouth in remaining a critical site for our national resilience and prosperity, whilst helping protect jobs in Scotland and beyond.”
The combined measures underline a coordinated effort by government, industry, and financial institutions to secure jobs, promote sustainable innovation, and strengthen the long-term industrial future of Grangemouth and the wider Scottish economy.
