Humber Freeport helps secure ?250m investment at industrial cluster

By Rick Lyon, Co-Editor

Humber Freeport has helped to attract another major inward investment by playing a key role in securing a GBP250m development.

Mitsubishi Chemical Group UK Ltd, part of one of the world’s largest chemical producers, has committed to invest 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 will create dozens of new 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.

It underlines Saltend Chemicals Park’s status as one of the UK’s leading industrial clusters, with a series of recent and current investments adding to well-established operations.

Saltend Chemical Park’s status as part of Humber Freeport’s Hull East tax site has been 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.

Businesses investing within the Humber Freeport tax sites benefit from a series of advantages, ranging from business rate and stamp duty land tax relief, to National Insurance support designed to reduce employment costs.