Humber Freeport details role in chemical company investment

Saltend Chemicals Park (image credit: px Group)

Humber Freeport has outlined its role in securing a significant investment in the region. Mitsubishi Chemical Group UK Ltd, part of one of the world's largest chemical producers, is investing in a new production line at Saltend Chemicals Park, which is located within one of the three Humber Freeport tax sites. Preparatory works have begun to make way for construction of the new production line, which will double Mitsubishi Chemical Group's capacity at the site, east of Hull.

The investment in a second production line is expected to create dozens of jobs, while also safeguarding the existing 130 roles at the Mitsubishi Chemical Group facility on site. The new production line is expected to become operational in 2026. Saltend Chemical Park's status as part of Humber Freeport's Hull East tax site was set to be a key factor in securing the investment, with plans for Mitsubishi Chemical Group to extend its lease with the chemical park's owner and operator, px Group, until 2060.

Humber Freeport chair Simon Bird said: "We are delighted that Mitsubishi Chemical Group has chosen to make this very significant new investment at Saltend on a site benefiting from being within the Humber Freeport footprint. "The substantial advantages offered by freeport status were an important factor in securing this new inward investment. "It supports Humber Freeport's mission to attract significant investment and create new, highly-skilled jobs and aligns with two of our key areas of focus - advanced manufacturing and decarbonisation."

Peter des Forges, managing director at Mitsubishi Chemical Group UK, added: "Once the new line is operational, the majority of the increased production will service the needs of our customers in more than 40 countries who continue to explore ways they can reduce waste and meet environmental targets." The GBP250m Mitsubishi Chemical Group development adds to GBP1bn of investment which had already been committed to Humber Freeport tax sites. Investments which have already been announced within the Hull East tax site include Pensana's rare earth processing facility and Meld Energy's proposed green hydrogen plant, both also located at Saltend Chemicals Park.

Elsewhere, Finnish manufacturer Metsa Tissue has selected part of Humber Freeport's Goole tax site to develop the UK's largest paper tissue mill.

The development will create more than 400 jobs once operational, with thousands of indirect jobs in the supply chain and local economy.

References

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