Wednesday, August 13, 2025
LBNN
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • Documentaries
No Result
View All Result
LBNN

Montrose Port Authority nearly doubles footprint with acquisition

Simon Osuji by Simon Osuji
October 23, 2024
in Energy
0
Montrose Port Authority nearly doubles footprint with acquisition
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


It’s a multi-million-pound deal that shows confidence in continuing to attract renewables work to the Port of Montrose.

Montrose Port Authority has acquired 45-acres of prime industrial land in the town as part of its vision to be one of Scotland’s key offshore energy hubs.

The purchase of Montrose Commercial Park, for an undisclosed multi-million-pound sum from Equipco Investments Ltd, adds to the existing 59 acres at the harbour.

The Forties Road site is formerly home to Petrofac’s fire safety training facility and the now-demolished Charleton House, which used to function as a maternity hospital.

The move is part of Montrose Port Authority’s masterplan to meet growing demand for space to support Scotland’s offshore energy sector.

‘Landmark’ acquisition for Montrose Port

Tom Hutchison, chief executive of Montrose Port Authority, has previously outlined hopes for the port to support 1,000 jobs.

He describes the land deal as a “landmark expansion”.

He said: “As a trust port, our mission is to drive sustainable growth that benefits our entire community.

“This landmark expansion amplifies our impact far beyond almost doubling our footprint.

“We’re creating opportunities for new businesses, local jobs, and economic growth.

© Supplied by Rory Raitt
Tom Hutchison, chief executive Montrose Port Authority.

“We are positioning Montrose at the forefront of Scotland’s energy transition.”

Montrose Port Authority hosts the operations and maintenance base for the Seagreen wind farm.

It will host the same facility for the Inch Cape wind farm development. This will involve an investment of more than £5m and create 50 jobs.

It is hopeful this is just the start of the part it plays in renewables.

Meanwhile it is also developing offices and a training facility at the town’s former Customs House. This is also in anticipation of an “influx” of companies looking to locate to Angus.

Mr Hutchison adds: “Our vision looks to the long term.

“We are laying the groundwork for future generations, ensuring Montrose remains pivotal in both traditional and renewable energy sectors.

“We’re proud to be a driving force for Scotland’s green energy future, catalysing growth and creating positive change that will resonate for decades to come.”

Council leader supports plans

Existing tenants of Montrose Commercial Park will continue their operations, with all tenancy agreements continuing.

Angus Council leader Bill Duff said: “Supporting the growth of the economy is a key priority for Angus Council.

Montrose Port.

“This announcement shows how the port is playing a vital role in capitalising on opportunities within the energy sector to support local jobs, increase capacity to support the growing clean energy sector and continue to establish Montrose and Angus as a key player in the green economy.”

Montrose Port was recently named SME Port of the Year at the 2024 British Ports Association Awards.

Montrose Port Authority is looking into future development options for the site with Scottish Enterprise.

Suzanne Sosna, director of energy transition at Scottish Enterprise, said: “We are exploring potential options for investment and promotion with Montrose Port Authority.”

Recommended for you

Offshore crews at the Kincardine Offshore Wind Farm in Scotland.

Labour promises to make Scotland ‘clean energy superpower’ with GB Energy



Source link

Related posts

Ghana’s oil ambitions: Are Jubilee and TEN fields losing steam?

Ghana’s oil ambitions: Are Jubilee and TEN fields losing steam?

August 13, 2025
Angola’s Cabinda refinery set to commence operation in September

Angola’s Cabinda refinery set to commence operation in September

August 13, 2025
Previous Post

Nigerian government drops money laundering charges against Binance executive

Next Post

Dogecoin: 80% DOGE Holders In Profit: Can It Hit $0.20?

Next Post
Dogecoin: 80% DOGE Holders In Profit: Can It Hit $0.20?

Dogecoin: 80% DOGE Holders In Profit: Can It Hit $0.20?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

There appears to be a coup attempt in Russia

There appears to be a coup attempt in Russia

2 years ago
Yango partners with Yabx and COFINA to launch In-App Digital Lending Services in Cote d’Ivoire

Yango partners with Yabx and COFINA to launch In-App Digital Lending Services in Cote d’Ivoire

8 months ago
Top 10 most visa-friendly countries in Africa for 2024

Top 10 most visa-friendly countries in Africa for 2024

9 months ago
Russian security forces search Moscow’s Garage Museum

Russian security forces search Moscow’s Garage Museum

1 year ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • The world’s top 10 most valuable car brands in 2025

    0 shares
    Share 0 Tweet 0
  • Global ranking of Top 5 smartphone brands in Q3, 2024

    0 shares
    Share 0 Tweet 0
  • Top 10 African countries with the highest GDP per capita in 2025

    0 shares
    Share 0 Tweet 0
  • When Will SHIB Reach $1? Here’s What ChatGPT Says

    0 shares
    Share 0 Tweet 0
  • Privacy Policy
  • Contact

© 2023 LBNN - All rights reserved.

No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • Documentaries
  • Quizzes
    • Enneagram quiz
  • Newsletters
    • LBNN Newsletter
    • Divergent Capitalist

© 2023 LBNN - All rights reserved.