UK, Scottish governments announce plan to secure future of Grangemouth oil refinery site
Adds context throughout, quote from minister in paragraph 6
LONDON, Sept 12 (Reuters) -The UK and Scottish governments announced on Thursday a joint investment plan to secure the industrial future of the site of Scotland's only oil refinery Grangemouth after its operator, Petroineos, said it would cease operations in 2025.
Petroineos said it would end refining oil at Grangemouth during the second quarter of next year due to global market pressures and competition from bigger, more modern and efficient sites in the Middle East, Asia and Africa.
The UK government said in a statement it has been working with the Scottish government to deliver an investment plan that would help secure the site's long-term future and protect its workforce.
The plan adds an extra 20 million pounds ($26 million) to a previously announced support package of 80 million pounds to support the community and its workers and invest in local energy projects in the region.
Some of the cash will go to provide career support to help affected workers in finding new employment and investment in the site's future by building a new long-term industry, such as carbon hydrogen or sustainable aviation fuels.
"It is deeply disappointing that Petroineos have confirmed their previous decision to close Grangemouth oil refinery," said the UK's energy secretary Ed Miliband. "We will stand with the workforce in these difficult times."
($1 = 0.7659 pounds)
Reporting by William James and Catarina Demony, Editing by Kylie MacLellan
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