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Markets rally as Evergrande fears ease; CO2 restart to cost ‘tens of millions’ – business live | Business

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Britain has reached agreement to get carbon dioxide pumping again, but it won’t be cheap.

Overnight, the UK struck a deal with CF Industries to get the American company to restart the production of carbon dioxide (CO2) at two fertiliser plants, addressing a crisis that threatened to disrupt the food industry.

It will see the government provide “limited financial support” for CF Fertilisers’ operating costs for three weeks while the CO2 market adapts to global gas prices.

And the bill is expected to run into tens of millions of pounds, Environment Secretary George Eustice said this morning.

He told Sky News:


“It’s going to be into many millions, possibly the tens of millions but it’s to underpin some of those fixed costs.

They’re big costly plants”

“We need the…

Click here for full article…www.theguardian.com