Mitsubishi Chemical Group UK has invested £250m to expand its production facility at Saltend Chemicals Park, near Hull.

The investment will double production capacity to meet growing demand for the company’s SoarnoL product, a grade of Ethylene Vinyl Co-Polymer (EVOH) primarily used in food packaging to extend product shelf life.

Mitsubishi Chemical Group’s site at Saltend sits within the Humber Freeport Hull East tax site. Businesses investing in freeport tax sites benefit from a series of incentives, ranging from business rate and Stamp Duty Land Tax relief, to Enhanced Capital Allowances for plant and machinery.

The expansion will create dozens of new jobs at the site, and commits Mitsubishi Chemical Group’s future to both Saltend and the wider Humber region.

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Mitsubishi Chemical Group has seen a significant increase in demand for SoarnoL, driven by food manufacturers seeking packaging that can be recycled and has a lower environmental impact.

The innovative product preserves food flavour and freshness through items such as the protective film on ready meals, squeezy sauce bottles, baby food packaging, meat packaging and much more.

The investment will further strengthen trade links between the Humber and the rest of the world, with 95 per cent of production from the Mitsubishi Chemical Group facility at Saltend exported.

It underlines Saltend Chemicals Park’s status as one of the UK’s leading industrial clusters, and complements a number of pledged significant investments in areas including sustainable aviation fuel (SAF) and green hydrogen.