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last mo.

Grangemouth Refinery Closure Spurs £3.5 Billion Low-Carbon Transformation Plan

The Project Willow report outlines nine potential projects to repurpose the site, with government funding pledged but significant private investment still required.

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Grangemouth’s industrial future relies on major policy shifts to unlock investment and drive its green transition

Overview

  • The Grangemouth oil refinery, Scotland's last, is set to close this year, resulting in the loss of 400 jobs and affecting thousands in related industries.
  • The Project Willow report proposes a £3.5 billion investment to transform the site into a low-carbon industrial hub, with nine potential projects identified.
  • Governments have pledged £225 million in funding, but the majority of the required investment must come from the private sector.
  • Union leaders are advocating for prioritizing the sustainable aviation fuel (SAF) project, which could cost £2.1 billion and potentially save jobs.
  • Critics question the feasibility of the proposed projects, citing high costs, risks, and the long timescales required to deliver significant employment benefits.