31/07/2003

10,000 jobs 'safeguarded' by £50m rescue package

The government is set to offer a £50 million rescue package to help safeguard over 10,000 jobs in the UK chemicals sector.

Trade and Industry Secretary Patricia Hewitt announced today that Regional Selective Assistance had been awarded to chlorine manufacturer Ineos Chlor to help modernise its Runcorn facility on Merseyside.

Over 2,000 direct jobs at the plant will be safeguarded by the aid, part of a £389 million investment programme by the company – safeguarding around a further 8,000 jobs in associated businesses which are dependent upon the Runcorn site.

The modernisation includes building a new, more efficient, steam-generating plant and the installation of modern computer control systems.

Ms Hewitt said: "This is great news for the UK chemicals sector and the regions which will benefit from today's decision.

"This assistance not only demonstrates the government's commitment to high-skilled, high-value manufacturing but also secures well paid jobs in areas where the unemployment rate is much higher than the UK average."

The investment will make the Runcorn site more environmentally friendly, the government claims. The construction of a modern steam boiler plant will "virtually eliminate" its emissions of sulphur dioxide and will reduce its nitrogen dioxide emissions by 80%.

The assistance is subject to European Commission approval and consists of £40 million grant and £10 million loan.

(GMcG)

Related UK National News Stories
Click here for the latest headlines.

06 December 2011
£1bn Regional Growth Boost Announced
The UK's £1 billion boost to the Regional Growth Fund announced in the Chancellor’s Autumn Statement last week is expected to enable the fund to support around half a million jobs in total. Deputy Prime Minister Nick Clegg will visit the North West today where he will set out further details on the boost to fund, which will now be £2.
06 August 2003
Irish science foundation wields 646m euro funding
The membership of the board of Science Foundation Ireland (SFI) has been named by the Irish government. The board, which will wield a budget of 646 million euro has been appointed following the establishment of SFI on a statutory basis under the Industrial Development (Science Foundation Ireland) Act, 2003.
23 May 2003
Relaxing BSE regulations gives hope to UK farmers
Restrictions governing British beef exports – enforced since the BSE outbreak three years ago – could be relaxed after the world animal health body, the Office Internationale des Epizooties (OIE), agreed to increase international thresholds for BSE risk categorisation.
28 June 2010
Toyota Wins Official Backing For Hybrid
The official launch of the new 'green' Toyota Auris Hybrid cars has taken place today. Business Secretary Vince Cable toured Toyota's Burnaston plant in Derby as the first mass-produced fully hybrid vehicle in Europe, the Auris Hybrid, was formally driven off the production line.
26 June 2006
Government announces £15 million boost for cycling initiatives
The government has announced an additional £15 million for cycling initiatives.