Petrochemicals giant Ineos has given its backing to a bid to create a green freeport on the Firth of Forth.
The London-headquartered company believes doing so would sustain a “prosperous industrial and manufacturing sector”, provide jobs and deliver economic benefits for Scotland.
UK and Scottish minister are currently considering five green freeport bids, including ones submitted by Aberdeen and the Cromarty Firth.
The two successful locations are expected to be unveiled later this summer.
A green freeport is a large zoned area within a defined boundary extending around 28 miles (45km) which includes rail, sea or airport.
Operators and businesses in the zone can benefit from a package of tax and other incentives, with supporters saying they fuel economic growth.
Andrew Gardner, chief executive and chairman of Ineos Grangemouth: “We are proud to be part of the bid consortium that brings together key public and private sector organisations with a shared goal, to deliver a just and fair transition to net zero in the region, along with the vision to reindustrialise and create economic development for the whole country.”
Ineos is the owner and operator of the Grangemouth refinery, which is located on the banks of the Forth.
As well as receiving North Sea hydrocarbons through the Forties pipeline system, the facility also has loft energy transition aims, and it engaged in hydrogen and carbon capture and storage work.
Ineos believes the Forth region has an “important and significant” in achieving the Scottish and UK Governments’ net zero targets.
It said the Forth Green Freeport bid will bring together key partners who are ideally placed to facilitate and accelerate investment into.
Mr Gardner added: “The bid has the potential to create an ambitious and attractive green investment zone, which is focused on the Forth but will have a much broader impact across Scotland, including creating 50,000 new green jobs, providing skills development for young people and creating local jobs in local communities for local people.”
The other four bidding consortia are Clyde Green Freeport, Aberdeen City and Peterhead Green Freeport, Firth of Forth Green Freeport and Orkney Green Freeport.