Forth Green Freeport consortium submits outline business case
The submission 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 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.
It is estimated that the initiative will attract up to £7bn of private and public investment over the next decade and create up to 38,350 jobs, with almost 19,000 of these being direct gross jobs linked to the target sectors.
The target sectors of the Forth Green Freeport will require a higher paid, more skilled workforce as well as creating other jobs across the supply chains.
The OBC focuses on three strategically located tax sites and a number of potential customs sites, which span 552 hectares in Rosyth, Grangemouth, Leith, 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.
Significant investment is needed over the next decade to reduce industrial carbon emissions across the country through innovations in cleaner fuels, energy and logistics. The Forth Green Freeport will accelerate Scotland’s green development profile, with a focus on offshore wind (fixed bottom and floating), manufacturing and the production of alternative fuels (biofuels and low carbon hydrogen).
The Forth Green Freeport will drive growth in Leith, Burntisland and Rosyth through the manufacture of the next generation of offshore wind components, including floating offshore wind (FLOW), while stimulating innovative shipbuilding and advanced modular manufacturing and assembly at Babcock’s site in Rosyth.
The consortium has established a strict set of Investor Principles which all landowners and developers will be required to adhere to. This will include abiding by the Fair Work Charter which prioritises the rights, wages and working conditions of employees. The principles also require businesses to abide with Forth Green Freeport’s net zero commitments.
Dame Susan Rice, Chair 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.”