Across Scotland, the UK and beyond, Aberdeen is known as a place of opportunity for workers and businesses who have been drawn to the city for its links to the North Sea and Northern Europe.
For decades, the city – and the surrounding area – have flourished as a result of the North Sea oil boom.
But it’s clear that times are changing. Scotland is moving with these times and the focus is changing from oil to more renewable energy sources,
And the latest development to reflect that change in the Granite City is a £30million vision for the expansion of Aberdeen Harbour – the cash is an investment from the Scottish National Investment Bank.
And the money should strengthen Aberdeen’s position as a port hub for the UK’s energy transition. Aberdeen’s Energy Transition Zone (ETZ) will be located adjacent to the South Harbour development.
The expanded port has been designed to accommodate larger, wider and deeper vessels, while providing land-side facilities for the expansion of the offshore wind industry.
The project is also funded by the European Investment Bank, Scottish Enterprise and the Aberdeen City Deal.
And as a Trust Port, Aberdeen Harbour is independent and run by a board for the benefit of its stakeholders, with all profits being reinvested back into the business.
The Aberdeen Harbour project is one of several exciting projects that are backed by the Scottish National Investment Bank.
In Glasgow, the bank has invested £3million in the Strathcarron Homes development in Nitshill, on the city’s south side.
The project will help to transform derelict land by building 25 homes which will be sold to local social housing tenants and first-time buyers.
Dallas Rhodes, Director of Strathcarron, said: “This an important project that has been in the pipeline for some time now, and the involvement and support of the Scottish National Investment Bank and Glasgow City Council has helped to finally bring it to fruition.
“Improving derelict spaces like this can help evolve whole communities and we hope it will have a really positive impact for the local area and lead to further investment.”
But that’s not all. The Scottish National Investment Bank has also invested £12.5 million in the Glasgow-based photonics and quantum technology company M Squared. The business is bringing cutting-edge technology to Scotland as it develops laser systems that are being used in manufacturing, oil and gas research, space technology and the medical sector – where cross-sector partnerships have led to breakthroughs in areas such as dementia research, cancer diagnosis and whisky maturation.
Dr Graeme Malcolm, Founder & CEO of M Squared, said: ““Scotland is at the heart of the UK’s advanced science and technology sectors and sitting alongside world-leading universities and commercial partners – it has become a critical hub of excellence from which we can continue expanding globally.
“Our commercial and technological potential is enormous and with this transaction we have the ideal financial and structural platform to progress and realise substantial growth and launch major new developments.”
These diverse developments clearly show the range of exciting opportunities that are going on in Scotland – and this means more jobs and increased prosperity for local economies.
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