A JAPANESE investment firm has completed its takeover of a port in the Highlands.
Mitsui, an international trading firm, has bought the Port of Nigg and its fabrication arm from Global Energy for an undisclosed sum.
Located in Easter Ross on the Cromarty Firth, the site is seen as vital to the expansion of offshore wind and its supply chain and is one of Scotland’s two "green free ports".
Mitsui, a Tokyo-based firm which specialises in engineering, energy, shipping and port operations, took a 25.5% stake in Global Energy in 2012.
After completing the takeover deal, he company said it plans to expand the manufacturing capacity at the port and hopes to invest in infrastructure to help support both the on and offshore industry.
The Port of Nigg has received around £120 million worth of investment, including some public funding, in the past 14 years to upgrade its facilities.
In March, Highlands and Islands Enterprise announced £10m in funding to create a new heavy-duty quayside.
At the time Deputy First Minister Kate Forbes said: “This is a prime example of how we and our enterprise agencies are focused on stimulating investment and targeting projects that will in turn act as a catalyst to further investment, jobs and opportunities.
“Given its location and being part of Inverness and Cromarty Firth green freeport, the Port of Nigg is strategically important to the growth and success of the offshore wind sector.”
She added: “An investment of this nature sends a clear signal to investors that Scotland is open for business.”
Nigg received its green freeport status in January 2023, alongside Forth Ports, and is able to offer tax incentives and lower tariffs within the zones they cover.
However, green freeports have commitments to meeting net zero targets and supporting fair work practices.
