The owner of a Scots refinery has asked the Scottish and UK governments for grants and loan guarantees of £150 million to build a new gas terminal – or see the plant close in the next four years.
Chemicals giant Ineos said its Grangemouth plant is “unsustainable” and faces being closed by 2017 if new investment is not forthcoming.
The company, which is facing industrial action at the site in a dispute with union Unite over the treatment of one of its officials, has launched a survival plan for Grangemouth which would see it invest £300million to help build the new terminal.
It also intends to lay off staff and close parts of the staff to cut costs, saying the plant is losing £10million a month.
“These changes will transform our Grangemouth business and ensure the long-term future of the site,” said chairman Calum MacLean.
“But everyone must understand that this is a package deal and there is no plan B.”
Ineos said it was asking workers to “play their part” in the survival plan by accepting changes to pay and pensions, including the scrapping of the existing final salary pension scheme and introduction of a “superior” money purchase scheme.
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