The global chemical company ‘Ineos’ is going to invest over 1 billion pounds for the purpose of decreasing the environmental impact of the company petrochemical plant based in Grangemouth.
The investment has been a part of the efforts by the company for the purpose of decreasing the emissions of the greenhouse gases at the plant to bring it to net zero by 2045, and the company is also going to build on the 500 million pounds of investment, which the company has already committed towards the projects that have been approved and are currently being implemented at the Grangemouth plant.
The company is also going to be supplying the energy to all the operations of the site, which will be responsible for driving down the emissions by at least 150,000 tonnes of carbon dioxide per year.
This latest investment from Ineos has been designed for the purpose of moving the Grangemouth forward to the next phase of its journey to reach the target of net zero, and this is also including the delivery of emissions savings of over 60 percent across the facility in the region, that has been operated by the Petroineos, which has been a joint venture between the companies including PetroChina and Ineos by the end of the decade.
Andrew Gardner, chairman of Ineos Grangemouth said, the have set a new plan for the purpose of achieving the net zero target by 2045 and they are now going to announce the next stage of their road map, that has also been including an investment in the excess of 1 billion pounds.
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