A MULTI-MILLION pound investment into a marine anchor firm in a bid to create more manufacturing jobs for Scotland has been announced by the Scottish Government.
The Scottish National Investment Bank (SNIB) announced it would invest £6.7 million into Subsea Micropiles who are “committed” to building a manufacturing facility in Scotland which is expected to create around 100 jobs.
The Dublin-based firm, which is developing a marine anchor system for large offshore construction projects, has also secured £2.5m from Japanese investor Marubeni.
SNIB’s investment is part of the £500m commitment by the Scottish Government over five years to grow offshore wind supply industries and infrastructure.
More than £850m in investments has been injected into Scottish projects over the past four months, the Scottish Government said.
Speaking ahead of a Scottish Parliament debate on increasing investment in Scotland, Deputy First Minister Kate Forbes (below) hailed the funding into Scottish projects saying with it the country is able to become a “major player” in the global energy transition.
She said: “The increasing pace of investment announcements will create jobs across the country and is further evidence of growing private sector and investor confidence in Scotland’s economic potential.
“Scotland has the talent, skills and resources to become a major player in the global energy transition and the Scottish Government is determined to ensure that this happens. This includes investing up to half a billion pounds to unlock the additional private investment we need to realise this enormous opportunity.”
She added: “Work is gathering pace. The backing for Subsea Micropiles demonstrates the strategic approach the Scottish Government is taking alongside SNIB and our enterprise agencies, focusing on bringing new investment and green jobs to Scotland while supporting the delivery of our burgeoning offshore wind capabilities.
“And next month we will host the Global Offshore Wind Supply Chain Forum in Edinburgh, bringing together international investors to discuss opportunities and further highlight what Scotland has to offer.”
The news follows SNIB’s £20m investment into subsea cable manufacturer XLCC’s planned new facility in Hunterston, Ayrshire.
Along with a £50m investment by Forth Ports in new infrastructure at the Port of Leith to support a major offshore wind contract.
Meanwhile, Copenhagen Investment Partners invested £800m for new battery storage projects in South Lanarkshire and Fife.
