INEOS Announces £150 Million Government Investment

INEOS has had a busy time since acquiring a stake in Manchester United.

Since December 2023, they have changed managers twice, bringing in Erik ten Hag and current manager Ruben Amorim.

The club reached two finals, winning one and losing the other.

They achieved a 2-1 victory over Manchester City in the 2024 FA Cup final, but faced a 1-0 loss against Tottenham in the Europa League final.

With United finishing 15th in May, their lowest in Premier League history, the pressure is mounting on INEOS to consider a managerial change.

Despite struggles on the pitch, including just two wins in their last seven games, INEOS has positive developments off the field.

They announced a £150 million investment at their Grangemouth site, a key asset for the UK’s manufacturing and energy sectors.

This investment aims to secure the future of British industry.

The British government is supporting this initiative with a £75 million loan guarantee and a £50 million grant.

INEOS stated this move ensures Grangemouth continues as a vital supplier to UK industry, protecting over 500 high-value jobs.

Chairman and CEO Sir Jim Ratcliffe emphasized the importance of the investment for UK manufacturing.

He noted the need for continued collaboration with the government to foster a competitive low-carbon manufacturing environment.

Ratcliffe stated, “Without a strong manufacturing base, the economy will decline. We need to address high energy costs and carbon charges that are driving industry away from the UK.”

Facilitated by NatWest Group, the investment aims to upgrade production units, enhance energy efficiency, reduce emissions, and improve site competitiveness.

While these developments are promising for the UK workforce, Manchester United supporters are eager for success on the pitch again as they aim for their first Premier League title since 2013.