More than 70 construction workers were involved in the building of AGC Chemicals’ new Fenix Fluor Ltd plant at Thornton.
The facility will produce raw materials for AGC’s Fluon branded fluoropolymer products, which employs 190 at the site and is a joint venture with international chemicals group Mexichem Fluor.
The Fluoropolymer chemicals are used in wire coating in cars, aeroplanes and space vehicles as well as in buildings such as the O2 Arena and the Allianz Arena in Munich.
Hiroyuki Okuno, President of AGC Chemicals Europe, said: “We are pleased to have secured local production and supply of the key raw material for the production of Fluon PTFE and ETFE.
“This is a strategic move to strengthen the supply chain that delivers top quality fluoropolymers to our European customer base from the plant in Thornton.”
Mr Fallon said: “The UK’s globally competitive chemicals sector is worth over £40bn a year and remains a key driver for growth.
“New projects such as Fenix Fluor demonstrate the confidence that global companies like Mexichem Fluor have in the UK as a place to do business and expand their operations, while creating valuable jobs.”