Grangemouth needs £3.5bn investment for future industries, report finds

A recent report, Project Willow, outlines the need for £3.5 billion in private investment to support a green transition for the Grangemouth oil refinery site, which is set to close this year, resulting in significant job losses. The study identifies nine feasible projects, including plastic recycling and hydrogen production, that could create up to 1,100 jobs over the next 15 years, though many of these positions may not materialize until the mid-2030s. While both the UK and Scottish governments have pledged financial support of £200 million and £25 million respectively, experts note that this funding is insufficient compared to the total investment required. Energy Minister Michael Shanks emphasized the commitment to a sustainable industrial future for Grangemouth, while First Minister John Swinney highlighted the site's industrial heritage as a competitive advantage. The report also highlights the challenges of transitioning to low-carbon alternatives, which remain more costly than fossil fuels. Overall, Project Willow represents a glimmer of hope for workers facing job losses, though significant hurdles remain.