Realistic to expect billions of investment in Grangemouth future, says Swinney
John Swinney has insisted the prospect of the private sector investing billions to secure a low-carbon future for the Grangemouth industrial cluster is realistic.
The First Minister said he is 'confident' public and private money can create new jobs and opportunities at the central Scotland site.
It comes after a summary of the long-awaited Project Willow report was released on Wednesday, setting out nine options for the future of the site.
Hundreds of jobs are set to be lost this year when the oil refinery there, owned by Peroineos, closes.
However, many of the options would not start production until after 2030 and the report says significant private capital investment of around £3.5 billion would be required.
A plan for Grangemouth to produce sustainable aviation fuel (SAF), which is backed by union leaders, would require up to £2.1 billion in private investment.
Mr Swinney spoke to journalists as he visited Celtic Renewables in Grangemouth on Wednesday, saying it is an example of what a sustainable future could be.
He was asked if the £3.5 billion figure was remotely realistic, given governments have so far contributed only a small fraction of this.
The First Minister said: 'Yes, because there's private investment that wants to make commitments to the journey to net zero.'
He said a recent offshore wind investment conference in Edinburgh had attracted interest from around the world.
Mr Swinney continued: 'I'm confident that with the right blend of public sector investment and private sector activity, we can put together the support for projects that will create new jobs and new economic opportunities in Grangemouth.'
Both the Scottish and UK governments say the projects could create up to 800 jobs by 2040.
Earlier this month, the Just Transition Commission warned it could take years to close the 'jobs gap' left by the refinery's closure.
Union leaders have suggested SAF as a way forward which could save jobs, with Unite saying the plant could be converted 'relatively easily' over a few years.
The Project Willow document says SAF operations would commence in 2035, with a capital expenditure of up to £2.1 billion required. Up to 270 staff would run the plant.
Derek Thomson, the Scotland regional secretary at Unite, urged the UK Government to back this option.
'What we're saying is, if you're going to accelerate anything in Project Willow, accelerate the sustainable air fuel plant,' he said in an appearance before the Scottish Affairs Committee which coincided with the release of the report on Wednesday.
Mr Thomson added: 'It just makes no sense to me whatsoever that you wouldn't say as a government, let's go for the SAF project.
'It saves Grangemouth, it saves the refinery, it gets us on track to meet our mandates for our own SAF production, and it doesn't rely on us to import oil.'
Falkirk East MSP Michelle Thomson also supported the SAF option, saying: 'The Labour government must act urgently to pass legislation to make SAF production a commercial proposition.'
Iain Hardie, regional head of legal and external affairs at Petroineos, said: 'The publication of the first Project Willow report is a milestone event for Grangemouth that could mark the beginning of a transformation for the whole cluster and, in time, create many more jobs and growth opportunities across a variety of related industries in Scotland.
'We look forward to continuing to support both UK and Scottish Governments as they implement the recommended policy, regulatory and fiscal changes required to unlock the opportunities identified in our report.'
Commenting on the report, UK energy minister Michael Shanks said: 'We committed to leaving no stone unturned in supporting an industrial future for Grangemouth delivering jobs and economic growth.
'This report and the £200 million investment by the UK Government demonstrates that commitment.
'We will build on Grangemouth's expertise and industrial heritage to attract investors, secure a long-term clean energy future, and deliver on our Plan for Change.'
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