Malaysian investor Petra Group has announced it will invest ?12 million to create a rubber recycling manufacturing facility in the North of England, creating 90 jobs.
The announcement was made as part of a first Northern Powerhouse trade mission, which saw prime minister David Cameron and business secretary Sajod Javid lead 62 companies from Northern England to Singapore and Malaysia.
While the exact location of the plant was not disclosed, the Petra Group said the manufacturing facility would use its “patented technology to produce Green Rubber”.
David Cameron said: “Petra Group’s announcement that it will open its pioneering manufacturing to the North East of England, creating up to 90 jobs, is testament to the skills and expertise the North East has to offer.”
Business secretary Sajid Javid added: “Our long-term economic plan seeks to rebalance growth across the regions and nations of the UK, and building a Northern Powerhouse will be a key part of this. This mission – the first of its kind – will demonstrate the strength of the northern regions, which are home to some of the most innovative companies and institutions in the world.”