Jobs boost as BiFab gets funds to build new Fife facility

A MANUFACTURING plant plans to expand its business and secure long-term employment after a multi-million pound deal was announced yesterday.

Fife-based BiFab, which supplies the offshore gas, oil and renewable energy industries, has been offered 2 million from the Scottish Government's Regional Selective Assistance fund. A further 4 million loan from Scottish Enterprise will help the firm finance a new 12,000 sq metre facility at Fife Energy Park, Methil.

Energy minister Jim Mather, who visited the business, described the funds as a "major economic boost" for the region.

He added: "The new manufacturing facility will secure hundreds of jobs and can act as a driver to encourage further investment from other companies in the region, resulting in significant new supply-chain opportunities."

BiFab managing director John Robertson said total investment will exceed 14 million.

He added: "This investment will also ensure long-term employment opportunities for our workforce and the recruitment of additional personnel as orders increase, we are investing in the future and our commitment to training and the employment of apprentices from Fife."

The firm also revealed that utility company Scottish & Southern Energy has purchased a 15 per cent stake. A deal was secured to supply about 15 structures for offshore wind turbines, commencing in 2014 and expected to last up to 12 years.

BiFab, which previously concentrated on the oil and gas industries, grew its annual turnover from 20 million to 90 million in four years after diversifying into the renewable wind, wave and tide sector.

Lena Wilson, chief executive of Scottish Enterprise, said: "By putting resources into opportunities like this, we can grow our offshore wind capabilities, assist Scottish companies and play our part in supporting the drive to create a low carbon economy."