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Ineos announces 'survival plan' for Grangemouth site, including ethane terminal project, job cuts, plant closures

11:59 AM MDT | October 1, 2013 | Ian Young

Ineos has announced what it calls a "survival plan" for the company's Grangemouth, Scotland, refinery and petrochemical complex, involving job cuts and changes to employees' pay and pension schemes, as well as a £300–350-million ($486–567 million) investment to construct an ethane feedstock import terminal and associated infrastructure. Ineos has asked the Scottish and UK governments for grants and loan guarantees to support the ethane terminal project. Ineos issued a statement last month saying that it wishes to invest, "to...

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