Anchors aweigh: Grangemouth's Freeport plans sail on towards £7 billion reality
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Submission of the OBC is an important step in the process towards securing green freeport status as the team refines its visionary bid for Scotland.
At the heart of the Forth Green Freeport’s vision, which will be delivered by the public and private sector consortium, is the re-industrialisation of Scotland, the creation
of large-scale economic regeneration, well paid high skilled green jobs and a just transition to net zero that benefits the wider Green Freeport approved area.
The Forth Green Freeport’s economic impact assessment forecasts this will drive up to £7 billion of private and public investment over the next decade and be the catalyst for creating up to 38,350 jobs.
The OBC focuses on three strategically located tax sites and a number of potential customs sites, which span 552 hectares in Grangemouth, Leith, Rosyth, Burntisland and Edinburgh Airport.
This is a refinement of the overall area following the inclusion of land owned by the Royal Navy in Rosyth (HMS Caledonia) and the joining of the Burntisland site to the
Leith site to create the Mid-Forth tax site.
As a result of the increased economic activity associated with the Forth Green Freeport, the consortium remains committed to ensuring that the communities in and around the tax sites benefit from the inward investment. The governing board and the three local authorities aim to deliver ongoing investment in economic related infrastructure that creates and develops a wider sense of place linked to the Forth Green Freeport.
Dame Susan Rice, chairperson of Forth Green Freeport, said: “The OBC submission is a key step in the green freeport process as we undertake our due diligence on
the vision that was set out at the bid stage.
"The team have been working hard over the past few months to refine the contents of the bid to shape how the Forth Green Freeport will be governed, operated and delivered for Scotland. We now await the feedback from both the Scottish and UK Governments before we begin creating the final business case early next year.
“The Forth Green Freeport is a true partnership of private and public sector organisations who share the same vision for the Forth. The delivery of significant investment
through the Forth Green Freeport is a key element in reducing emissions across the country through innovations in offshore wind manufacturing, assembly and
commissioning, alongside innovative shipbuilding, modular assembly and hydrogen manufacture.”
The OBC document, which was submitted to the Scottish and UK Governments on Friday, November 24 and it will now be reviewed by both governments before being approved, allowing the Forth Green Freeport to become operational.
The consortium will then develop the Final Business Case which develops the detail in the OBC further and secures the seed capital funding linked to the Green Freeport.
The FBC will be submitted to the Scottish and UK Governments in Spring 2024.