Feeds

Financial crisis does for Scottish biofuel plant

Plans for £65m facility on indefinite hold

High performance access to file storage

Chemical company Ineos Enterprises has "put on hold" indefinitely plans to build a £65m biodiesel plant in Grangemouth, near Falkirk.

The company, which already operates a synthetic ethanol refinery in the town, said the "current economic slowdown had rendered the project unviable", according to the BBC.

The proposed facility - announced back in 2006 and expected to be operational this year - would have produced 500,000 tons of biofuel a year. It had attracted a £9m grant from the Scottish Government, which Ineos has returned.

Ineos said in a statement: "Given the continued and prolonged global economic downturn Ineos is focussing on tight control of costs and expenditure across its entire portfolio.

"As a consequence, ongoing plans to invest in new additional biodiesel capacity across Europe are on hold until Ineos has a clearer picture of the economic outlook. Across Europe, manufacturing industry, including chemicals and biofuels, is experiencing a period of unprecedented volatility and uncertainty and accurate forecasting is expected to remain extremely difficult in the short-term."

The convener of Falkirk Council's economic development committee, councillor Craig Martin, said: "We are obviously disappointed that this innovative idea isn't going ahead. However, we fully recognise that many businesses across the UK are being forced to rethink their operations.

"We are willing to assist Ineos in any way we can, particularly when it comes to preserving jobs."

Ineos Enterprises already operates a biodiesel plant in Baleycourt, France. A spokesman said the firm would press ahead with plans to double capacity there. ®

High performance access to file storage

More from The Register

next story
Elon Musk's LEAKY THRUSTER gas stalls Space Station supply run
Helium seeps from Falcon 9 first stage, delays new legs for NASA robonaut
Solar-powered aircraft unveiled for round-the-world flight
It's going to be a slow and sleepy flight for the pilots
Russian deputy PM: 'We are coming to the Moon FOREVER'
Plans to annex Earth's satellite with permanent base by 2030
KILLER SPONGES menacing California coastline
Surfers are safe, crustaceans less so
LOHAN's Punch and Judy show relaunches Thursday
Weather looking good for second pop at test flights
New FEMTO-MOON sighted BIRTHING from Saturn's RING
Icy 'Peggy' looks to be leaving the outer rings
Discovery time for 200m WONDER MATERIALS shaved from 4 MILLENNIA... to 4 years
Alloy, Alloy: Boffins in speed-classification breakthrough
Curiosity finds not-very-Australian-shaped rock on Mars
File under 'messianic pastries' and move on, people
Top Secret US payload launched into space successfully
Clandestine NRO spacecraft sets off on its unknown mission
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
HP ArcSight ESM solution helps Finansbank
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.