The Scottish National Investment Bank has invested £30m into the expansion of Aberdeen Harbour.
The loan 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.
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.
Eilidh Mactaggart, chief executive at the Scottish National Investment Bank, said: “The South Harbour project is a critical platform for the just transition in Scotland, delivering a high-specification facility which will shape industry in Aberdeen for decades to come and provide valuable space, as well as water access, for both offshore wind supply chain providers and offshore wind developers.”
Bob Sanguinetti, chief executive at Aberdeen Harbour Board, said: “The port will provide customers and port users with scalable and flexible infrastructure, making it ideal for space-intense industries such as offshore wind, decommissioning, cargo and cruise.
“We are months away from opening our South Harbour expansion and look forward to beginning operational trials in the port at the end of the summer."
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