Ineos and Rolls Royce to build nuclear plant

INEOS is reportedly in talks with Rolls-Royce to build a mini nuclear reactor and power its Scottish chemical refinery.

Jointly owned by China's Petrochina, the Grangemouth factory will need to reach net-zero by 2045 to comply with the Scottish government's environmental targets, the Sunday Telegraph reported.

While Scottish First Minister Nicola

Sturgeon has opposed the building of new nuclear power stations using current technology, the government has recently said it would consider new technologies such as small modular reactors (SMRs).

Cheaper and quicker to build due to their easier assembly, SMRs are part of Rolls-Royce's strategy with the company planning to build 30 of them. The manufacturer is waiting for customers to rally behind the project as well as for the regulators'

green light on designs.

"Rolls-Royce SMR is talking to a number of industrial customers who see huge potential in using our UK developed technology to provide affordable, long-term, low carbon electricity, generated from a sustainable source," a company spokesperson told the outlet.

"We do not comment publicly on any commercial discussions."

Ineos was approached for comment.