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Monday, June 17, 2024

New Inward Investment Commitments Made During Japan Visit

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A major Japanese company has announced plans to establish a manufacturing plant in Scotland to supply the country’s growing renewable energy sector.

Energy Secretary Neil Gray met Sumitomo Electric Industries (SEI) in Osaka to discuss the company’s plans for a subsea cable factory in the Highlands, supporting the rapid expansion of Scotland’s renewables sector.

The Scottish Government, alongside Scottish Development International and Highlands and Islands Enterprise, is working closely with the company to advance its presence in Scotland.

The Energy Secretary is currently undertaking a three-day trade mission to Japan to develop relationship with companies across the renewables and supply chain sectors, and build new inward investment opportunities.

During a wide-ranging programme, Mr Gray also met Scotland’s first and longest-standing inward investor, Terasaki Electric, to mark its 50th year of investment in Scotland.

Mr Gray said:

“Today’s announcement from Sumitomo demonstrates the strength of confidence investors have in our vision for a net zero economy.

“The company has a proven track record in high-voltage underground cables which will be invaluable to supporting Scotland’s rapidly expanding offshore wind sector.

“The Scottish Government will continue to work alongside Scottish Development International and Highlands and Islands Enterprise will continue to work closely with Sumitomo to foster this important partnership.

“It is clear that there is enormous interest for investment in Scotland’s renewables revolution.

“We have a world-beating pipeline of offshore wind projects and this visit has demonstrated the important role played by Scotland’s international network and the value of growing and developing our partnership with our trusted Japanese partners, both old and new.”

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