400 Fife-wide jobs in £6m deal for Burntisland firm
A £6 million deal for a Burntisland-based renewable energy company could create up to 400 more jobs for the region.
The package, to help BiFab create a world-leading new manufacturing facility at Fife Energy Park in Methil and more than treble its output, was unveiled by the Scottish Government this week.
Jim Mather, Energy Minister, announced that BiFab has been offered 2 million of Regional Selective Assistance (RSA) plus a 4 million commercial loan from Scottish Enterprise to help finance a new 12,000 square metre facility at Fife Energy Park.
BiFab also announced that Scottish and Southern Energy plc has purchased a 15 per cent stake in BiFab for 11 million in a move which will further enhance the company's overall competitiveness.
In addition SSE has secured an agreement with the company for the supply of a minimum of 50 jacket substructures a year from 2014, for a period of 10 to 12 years.
The company was traditionally involved in making steel fabrications for the oil and gas industry, and has successfully diversified into the offshore wind, wave and tidal power industry - a move which has seen its annual turnover grow from 20 million to 90 million in just four years.
The investment will help BiFab more than treble its annual production, becoming a major supplier to the wider industry in Scotland.
During a visit to BiFab at Fife Energy Park, Mr Mather said: "The investment anchors BiFab to Fife Energy Park and secures a major economic boost for the region.
''It also underlines Scotland's leading position in the global development and deployment of offshore renewable energy generation.
"BiFab is an excellent example of a proven company with expertise in deep water oil and gas exploration, diversifying into the offshore renewables sector.
''The new manufacturing facility will secure hundreds of jobs and can act as a driver to encourage further investment from other companies in the region, resulting in significant new supply-chain opportunities."
John Robertson, managing director at BiFab, said: "This is good news for Fife and for Scotland.
''We are currently world leaders in the design and supply of Jacket Substructures for the Offshore Wind sector and this investment will help our plans to create one of the best manufacturing facilities in Europe.
''The total investment for this project will be over 14m and we plan to have the new factories fully operational by late 2011.
"This investment will also ensure long-term employment opportunities for our workforce and the recruitment of additional personnel as orders increase, we are investing in the future and our commitment to training and the employment of apprentices from Fife."
BiFab currently has 350 employees at its Methil facilities.
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Tuesday 21 May 2013
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