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Union leaders are expected to make significant financial concessions in an eleventh hour attempt to keep open the Grangemouth petrochemical plant in Scotland, after owner Ineos announced earlier this week it would shutter the factory with the loss of 800 jobs, writes The Scotsman.
The facility, which is worth around £1bn (€1.2bn) a year to the Scottish economy and accounts for some 2 per cent of the country's GDP, processes by-products from a neighbouring oil refinery, but has been losing £10m a month, after having to reduce operations to only 60 per cent of capacity.
The announcement has led the Scottish and Westminster governments to offer multi-million-pound funding deals to help keep the plant open.
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