Derek Halden (Friends of The Scotsman, 23 July) makes some valid points on how prioritisation is important in his article, “Doubt will only delay valuable investment”.
However, he is wrong to say that Scotland is lagging behind in terms of attracting private investment – it is in fact a leader in this field. On a per-head basis, Scotland is currently attracting more private investment into public infrastructure than any other European country.
The £2.5 billion Non Profit Distributing programme (NPD), led by the Scottish Futures Trust (SFT), is investing in roads, schools, colleges and hospitals.
Of the two major road projects, more than £300 million of international investment has already been secured for the M8/M73/M74 motorway improvements where work is under way, with more than £400m to follow into the soon-to-start Aberdeen Western Peripheral Route, which is in the final stages of procurement.
SFT uses its commercial expertise to engage with a wide range of financiers in order to secure the best value investment. The NPD programme is successfully attracting international investors, with £600m already agreed for investment by the European Investment Bank, alongside more than £800m from European banks and pension funds.
So, with private investment into public infrastructure running at five times the European average – we hope you would agree that Scotland is a leader in attracting international investment in our infrastructure – vital to protect construction jobs and support our connectivity and economy.
Director of finance and investments
Scottish Futures Trust