Grangemouth is the UK’s last ethylene plant, a key ingredient in plastics used in advanced manufacturing and the automotive and aerospace industries.
In addition to ethylene, the plant’s core products are propylene, polyethylene, and polypropylene.
These materials are used in a wide variety of products, including packaging, insulation, cables, construction materials, pharmaceuticals and healthcare products, including PPE and syringes.
The complex uses shale gas brought in by ship from the United States to produce ethylene.
Prime Minister Sir Keir Starmer said the deal would protect jobs and ensure places like Grangemouth can develop into the future.
He said: “Our commitment is clear; to back British industry, to stand by hardworking families, and to ensure places like Grangemouth can thrive for years to come.”
