An emerging Hull manufacturing facility for a wonder construction product has been put on hold.
The Tricoya plant at Saltend has suffered significant delays and escalating costs in its build-out. Now a buy-out of consortium partners by the major shareholder, Accsys, has led to the decision.
The pause - for at least six months, but not indefinite - comes as it revealed a further £30 million is required to take it to commercial operations, on top of an already inflated £89 million investment at the Saltend site. A figure of £120 million is now being eyed, with £500,000 further for every month passing in the holding period. It is double the figure outlined at project outset.
