The Scot-Govt is to contribute £11.7 million towards Aberdeen Harbour’s £350 million expansion, supporting the creation of 2,300 jobs by 2026.
The development – due to be completed in 2020 – will provide enhanced facilities and capacity to the oil industry and help capitalise on Scotland’s growing cruise tourism and renewables markets.
The European Investment Bank, which is providing a loan of up to £175 million to the board, while the local councils are providing support of up to £11 million.
On a visit to the harbour, Scottish First Minister Nicola Sturgeon said: “Aberdeen is Scotland’s main oil and gas port and one of Europe’s leading marine support centres for offshore energy.
“This funding will open up significant opportunities to diversify and exploit the rapid growth in cruise tourism and the renewables markets in Scotland.
“We are already seeing Scottish-based firms seizing decommissioning opportunities, and we are committed to supporting Scottish industry to win further valuable contracts. That’s why we developed a Decommissioning Plan last year, and have since launched the £5 million Decommissioning Challenge Fund.”