188体育

• Transformational commitment聽to support investment in Grangemouth community through National Wealth Fund.

• Project Willow to report shortly on long-term future of industrial site.

• Grangemouth Training聽Guarantee to support refinery workers into new聽jobs 鈥� as part of the Plan for Change.

The National Wealth Fund will provide 拢200 million of investment to new opportunities in Grangemouth聽as part of a major intervention to ensure the long-term future of the industrial site, the Prime Minister announced today [Sunday 23 February].

The funding will be available for co-investment with the private sector to help unlock Grangemouth鈥檚 full potential and secure our clean energy future.聽聽

The UK Government is also providing a 鈥榯raining guarantee鈥� for all Grangemouth refinery staff to ensure that any worker who would like skills training at the local college is supported, with funding provided by the UK Government - this will help workers into new, good jobs with local employers.聽

Prime Minister Keir Starmer said:聽

鈥淢y government has聽already taken decisive action to protect good British jobs in industries that are vital for our economic security: saving Harland and Wolff, investing in the future of Hitachi in North-East England, a new plan for an electric arc furnace at Port Talbot 鈥� secured this week.聽

鈥淲e will grasp the opportunities at Grangemouth, work alongside partners to develop聽viable聽proposals and team up with business to get new industries off the ground.

鈥淎nd to attract聽private聽investment into the partnership we need we will聽allocate聽拢200 million聽from the聽National Wealth Fund for investment聽in Grangemouth - an investment in Scotland鈥檚 industrial future.鈥�

The announcement comes on top of existing investments from聽the UK Government, in partnership with the Scottish Government, to ensure the long-term聽economic future聽of the area. These investments are a strong commitment to people in the central belt, and include:聽聽聽

• The 拢100 million Falkirk and Grangemouth Growth Deal,聽delivered jointly with the Scottish Government,聽to support the community and its workers by investing in local energy projects to create new opportunities for growth in the region.

• Joined-up support from DWP and DESNZ聽to provide聽tailored career and skills support for聽refinery聽workers to assist in finding new employment.

• The聽拢1.5 million Project Willow feasibility study,聽jointly funded with the Scottish Government,聽to identify credible long-term industrial options for the聽Grangemouth聽site.

The Prime Minister has also reiterated the UK Government鈥檚 commitment to working in partnership with the Scottish Government to identify a viable, low carbon industrial future for the Grangemouth聽site.聽聽

Energy Secretary Ed Miliband said:聽

鈥淲e have always said that we will leave no stone unturned in seeking a sustainable industrial future for Grangemouth and its workers.聽

鈥淎longside our ongoing support for affected workers, this investment will help unlock the site鈥檚 long-term potential, with the backing of the private sector. This will create good jobs in vital new industries and drive growth and investment in the local community as part of our Plan for Change.鈥澛�

Scottish Secretary Ian Murray said:聽聽

鈥淭he UK Government has been working at speed to ensure a long-term future for Grangemouth and the National Wealth Fund allocation聽announced today demonstrates our commitment to this.聽聽

鈥淲e remain committed to working closely with the Scottish Government and other partners to support the refinery workers and ensure the long-term future of this site.鈥澛犅犅�

Project Willow, the co-funded initiative which is examining the green-energy future of the industrial site, is expected to produce its report in the spring.聽

ENDS

Notes to editors:

Any National Wealth Fund investment will be subject to investible propositions and the Fund鈥檚 criteria 鈥� the proposition must deliver a positive return, drive regional and economic growth or support activity to tackle climate change, invest in key sectors, and crowd in private finance.