£8.4 billion of investment scheduled for Aberdeen City Region

An Investment Tracker capturing the scale of infrastructure projects planned for the North-east of Scotland reveals that £8.4bn of public and private investment is due to be delivered to benefit the region before 2030.

Aberdeen & Grampian Chamber of Commerce has produced its third annual Tracker in partnership with EY.

Significant projects in the investment pipeline range from The Event Complex Aberdeen (TECA) (£333m) to Aberdeen-Inverness rail improvements (£330m) to the Broadford Works urban village (£140m) in Aberdeen.

Chamber chief executive Russell Borthwick said: “It is a measure of the incredible progress and pace being demonstrated that £1.7bn of the projects highlighted in last year’s Tracker have been delivered over the past 12 months, with many headline schemes due for completion in 2019 and 2020.

“We are taking the initiative, investing heavily in delivering the infrastructure, regeneration and cultural activity to create a truly 21st century environment. Right here, right now.”

Projects included in the Tracker are those which have received planning permission or have funding committed.

Derek Leith, global oil and gas tax lead and senior partner at EY Aberdeen, said: “After a particularly challenging couple of years, the renewed strategy of diversification for the North-east economy is beginning to pay dividends.

“The region is continuing to nurture an environment of innovation and entrepreneurship, ready for growth.”