Dundee waterfront secures huge investment

Wednesday November 2nd, 2011

Dundee’s waterfront project has secured £300m worth of investment.   

The money amounts to a third of the £1bn target needed to transform the area. The development includes several major projects such as the V&A at Dundee and new local authority headquarters. 

A flood prevention scheme will be built to protect businesses and work on the surrounding infrastructure is already under way. 

The city’s waterfront project is split into five strategic sites, including an area for digital and media industries, one for residential property and another for offshore wind and tidal manufacturing businesses. 

The Spanish wind turbine operator Gamesa has said it is close to deciding where to site its new factory, with Dundee on the shortlist. 

Mike Galloway, Dundee’s director of city development, said: “Dundee Waterfront is attracting a growing amount of interest, enquiries and, crucially, hard investment from a wide variety of quarters.”  

Allan McQuade, Scottish Enterprise Business Infrastructure Director, commented: “Scottish Enterprise is involved in a number of projects throughout the Dundee waterfront as part of our commitment to this transformational programme and welcomes the progress made to date and its potential contribution to the Scottish economy.”

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