Japanese investor completes takeover of Port of Nigg
Mitsui took a 25.5% stake in Global Energy, owned by businessman Roy MacGregor, in 2012.The Tokyo-based firm brings specialism in engineering, energy, shipping and port operations.The company said it hoped to further expand manufacturing capacity and infrastructure for both the on and offshore markets after completing the deal.
Highlands and Islands Enterprise announced a £10m investment in the port in March to create a new heavy-duty quayside.At the time, the deputy first minister, Kate Forbes, described it as a "catalyst for further investment".Nigg received its green freeport status in January 2023, alongside Forth Ports.Green freeports are able to offer tax incentives and lower tariffs within the zones they cover.However, they have commitments to meeting net zero targets and supporting fair work practices.In February, HMRC gave it permission to have some of its own customs arrangements, meaning taxes and certain duties on goods arriving do not have to be paid.
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