An oil giant has introduced plans to take a position £1.9bn in Stanlow oil refinery in Cheshire, together with establishing a plant to produce industrial hydrogen.
Plant proprietor Essar can also be investing in a carbon seize plant and storage for inexperienced ammonia introduced over from India.
Essar will decarbonise its manufacturing of petrol, diesel and aviation gasoline, and can provide clear energy to close by glass and chemical factories.
It added the funding would defend current jobs and create new ones.
“It is an incredible day – we now have an incredible set of investments that are actually going to make a step change within the carbon footprint of the north-west of England,” stated Tony Fountain, Managing Companion at Essar Energy Transition (EET).
He added: “It is an enormous step.”
The group, which purchased Stanlow in 2011, has created EET to drive what it hopes would be the “UK’s main power transition hub”.
It stated that its operations would reduce carbon emissions within the north-west of England by 20%.
It first signalled its intentions to reposition the positioning in December when it unveiled its plans for a £360m carbon seize plant.