INEOS opens UK base in 'vote of confidence' for Britain's economic future
Energy giant INEOS has opened a new headquarters in the UK, saying the move reflects its increased confidence in this country.
The switch from Switzerland to London also shows the favourable climate for growth and business in the UK, said the company.
INEOS chairman Jim Ratcliffe said: "Whilst INEOS is an Anglo-Swiss company, our new base in London reflects our British roots. The future for INEOS is very bright and much of this optimism comes from our UK-based operations.
"We currently supply one in 10 British homes with gas, we have a growing trading and shipping business and our chlorvinyls business has doubled in size.
"We are also planning to extract shale gas in the north of England and to grow the newly revitalised Grangemouth.
"We have immense confidence in Britain's economic future - the current business climate makes sitting our new headquarters in the UK an easy decision. INEOS will continue to grow both in the UK and worldwide. Britain is a good location to ensure both of these goals."
Climate change and industry minister Nick Hurd said: "This decision is another vote of confidence in the British economy and confirms the company's commitment to further long-term investment and growth in this country."