The UK National Wealth Fund will provide £200m to Grangemouth in a bid to reposition it as a low-carbon industrial site and attract private investment, Prime Minister Keir Starmer has confirmed.
The investment comes on top of the £100m Falkirk and Grangemouth Growth Deal, delivered jointly with the Scottish Government, which will invest in local energy projects, and the £1.5m Project Willow, which is examining the site’s green energy and hydrogen potential, and will report in the spring.
“We will grasp the opportunities at Grangemouth, work alongside partners to develop viable proposals and team up with business to get new industries off the ground,” Prime Minister Starmer said.
Unite general secretary Sharon Graham welcomed the news after months of campaigning. “This needs to be the start not the end in delivering a real workers’ transition for Grangemouth,” she said.
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