Scotland’s Grangemouth petrochemical plant is to stay open after a new deal was reached between workers and site operator, Ineos.
The move marks a dramatic u-turn on Wednesday’s decision to shut the plant after union members rejected a “survival plan”.
Staff greeted the news with huge cheers during a mass meeting at 11:00 today. Ineos confirmed a further investment of £300m to secure the majority of the 800 jobs previously at risk.
Grangemouth chairman Calum MacLean said: “It is a huge investment and that investment was only rightly to be done if we had a long-term sustainable base.
“What we have now done is given the chemicals business another 15 to 20 years on the back of new raw materials, new contracts and significant investment.”
Mr MacLean did not rule out the prospect of redundancies, but underscored they would be “very limited”.
Following Ineos’ decision to close the plant, Scottish ministers and the Unite union engaged in talks which culminated in a fresh offer being made by unions to the company.
Ineos says Unite has ruled out the prospect of strike action for three years and that the new deal involves a “modern” pension scheme and a three-year pay freeze.
Related reading:
- Union considering concessions to keep Grangemouth alive
- Free personal protective equipment training for your site
- The art of industrial safety: personal protective equipment
- Grangemouth petrochemical plant remains on shutdown
- Worst mining disaster in British history remembered
- Shipping firm fined over “needless” death
