Mitsubishi Chemical Group has announced a pivotal £250 million investment into its Saltend Chemicals Park facility, enhancing its operational capacity.
This development signifies a robust commitment towards environmental sustainability and economic growth, driven by strategic positioning within Humber Freeport’s tax-effective zone.
Mitsubishi Chemical Group has declared a substantial £250 million expansion at its UK location, specifically aiming to boost operations within the well-established Saltend Chemicals Park. This park occupies a strategic position inside the Humber Freeport taxation jurisdiction, enhancing its advantageous standing. The introduction of a new production line is poised to significantly augment the company’s production capabilities.
The selection of Saltend Chemicals Park, a part of the Humber Freeport Hull East zone, plays a pivotal role in this investment decision. The freeport status, with its associated fiscal incentives and tax efficiencies, has been instrumental in solidifying Mitsubishi’s commitment to this site. Complementing this decision is the extension of the lease with px Group, lasting until 2060.
This investment facilitates the creation of a secondary production line, which stands to double the existing capacity at Saltend. The implementation of this new line will also result in the employment of numerous skilled workers, adding to the existing workforce of 130. Expected to be operational by 2026, this development is a clear testament to Mitsubishi’s growth strategy.
This facility exports an impressive 95% of its output, enhancing Mitsubishi Chemical Group’s international trade connections and reinforcing Saltend’s reputation in the global market.
The investment does not solely enhance production capabilities but also creates economic benefits for the region. Dozens of new roles are anticipated, supporting local employment. By fostering job creation, this project contributes positively to the regional economy and stimulates related industries.
Simon Bird, Chair of Humber Freeport, underlined the significance of Mitsubishi’s investment, citing freeport advantages as instrumental. He highlighted the region’s growth potential, skilled workforce, and strategic location as appealing to global investors.
Mitsubishi’s plans to extend its lease till 2060 reflect long-term confidence in the Saltend site and broader Humber Freeport area. The company’s ongoing commitment encourages further development and investment from international stakeholders.
In conclusion, Mitsubishi Chemical Group’s £250 million investment in Saltend Chemicals Park underscores its dedication to boosting production and supporting environmental sustainability. This initiative not only elevates Mitsubishi’s operational capabilities but also enhances regional economic growth through job creation and global trade connections.
