Latest news with #SumitomoElectricLtd
STV News
6 days ago
- Business
- STV News
Council planning to build 95 new homes amid housing shortage
Plans have been submitted to build nearly 100 new homes in Ullapool. Highland Council has drawn up plans to build the new homes on vacant land near the Ullapool golf course. It's understood that the properties will be a mix of affordable homes for rent and private properties. A public consultation is set to take place before the plans are progressed. The development comes amid a housing shortage across the Highlands. The local authority previously said the region needs around 4,000 new homes over the next decade to address a long-standing shortage of affordable homes. An estimated 8,400 jobs are expected to the created through the Inverness and Cromarty Firth Green Freeport (ICFGF). Japanese firm Sumitomo Electric Ltd confirmed a £350m investment at the Cromarty Firth site, which will see the creation of a giant factory that will supply high-voltage cables to offshore windfarms. Get all the latest news from around the country Follow STV News Scan the QR code on your mobile device for all the latest news from around the country
BBC News
13-02-2025
- Business
- BBC News
Special customs area set up at Port of Nigg in Highlands
The UK government has given a Highland port permission to have some of its own customs which is owned by engineering company Global Energy Group, is the first site in the new Inverness and Cromarty Firth Green Freeport (ICFGF) to get the said it would simplify paperwork and reduce costs - including taxes - around large engineering equipment and components imported from said the move could attract more companies and investment to the freeport, which was set up following an announcement two years ago. The status has been awarded by the UK government department HM Revenue and Customs (HMRC).Port of Nigg's customs site is a designated area within the freeport where usual UK customs rules, such on taxes and other duties to be paid, do not said permission was granted by HMRC after it carried out a stringent audit and verification status will be regularly reviewed and covers products such as high voltage electricity cables, wind turbine generator components and fabricated steel said the prospect of securing the designation was key to attracting Sumitomo Electric Ltd to Nigg. The Japanese company is constructing a £350m subsea cable manufacturing plant at the port, which is expected to create more than 150 chief executive Calum MacPherson said more custom sites could added: "Our ports do not handle small consumer goods so we will not see, for example, transit of large volumes of food and drink. "Where our ports excel is in the handling of heavy engineering components for the energy sector, and this status significantly raises our potential as a major European hub for offshore wind and renewable energy technologies."Green freeports are able to offer tax incentives and lower tariffs within the zones they also include commitments to meeting net zero targets and supporting fair work practices.
