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Aberdeen to sow GBP40m investment into harbour.
(From Lloyds List)
STRONG North Sea oil activity, growing passenger traffic and rising demand for general cargo activities means Aberdeen Harbour will invest around GBP40m ($78.6m) to 2011, writes Martyn Wingrove.
As a trust port, Aberdeen remains an active investor in new infrastructure and the majority of its GBP40m rolling investments will go on creating further space to accommodate new traffic.
Britain's oldest business, royal chartered since 1136, clocked up GBP20.09m in revenues and GBP9.03m in pre-tax profits, up from GBP5.6m in 2005, as cargo and shipping levels reached new highs.
These profits will be reinvested to improve facilities and keep the existing infrastructure maintained, while port charges will be held for the seventh time in eight years.
Aberdeen Harbour Board invested GBP6.4m in 2006 to open a new marine operations centre and reconstruct the Albert Quay West deep water berth.
Its latest project is to create 20,000 sq ...
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