A £1.5 million feasibility study, known as Project Willow, has outlined a strategic plan to ensure a long-term industrial future for the Grangemouth oil refinery. The study, conducted by consulting firm EY, follows Petroineos’ decision to decommission the site. Backed by £200 million from the UK Government and £25 million from the Scottish Government, the plan aims to create jobs, attract investment, and stimulate growth in the region.
The study identifies long-term industrial opportunities for the Grangemouth site and highlights the potential to leverage the area’s skilled workforce, local expertise, and its strong history in fuel production. The plan suggests that Grangemouth could transition to low-carbon energy production, with potential projects in plastics recycling and hydrogen production. These initiatives could generate up to 800 jobs by 2040, boosting the local economy and supporting both governments’ shared goals for a sustainable future for the site.
In February, the Prime Minister announced the £200 million investment to help unlock Grangemouth’s full potential. Following this, First Minister John Swinney pledged £25 million to create a Grangemouth Just Transition Fund, designed to help businesses and stakeholders develop viable investment proposals for the site over the next year.
Energy Minister Michael Shanks expressed the government’s commitment to securing an industrial future for Grangemouth. He stated, “We will build on Grangemouth’s expertise and industrial heritage to attract investors, secure a clean energy future, and fulfill our Plan for Change.”
Scottish Secretary Ian Murray also welcomed the release of the Project Willow report, calling it a key step towards a sustainable future for Grangemouth. He emphasized the importance of collaboration with the Scottish Government and local partners to attract investment and support the skilled workforce.
First Minister John Swinney highlighted the site’s long industrial history and its competitive advantage due to its skilled workforce. He emphasized that the workers at Grangemouth’s refinery and in the broader industrial cluster play a crucial role in Scotland’s economic growth and its “net zero” future.
