 The Alcan project could bring 700 jobs to the Falkirk area |
A major project to redevelop a former aluminium plant in Falkirk has been awarded �1m in European Union funding. It is hoped that transforming the former Alcan site into a business park will create up to 715 jobs and bring �50m of private investment to the area.
Falkirk Council and Scottish Enterprise are behind the project.
Scottish Enterprise bought the 35-acre site in 2005, but the organisation's funding problems have prevented it from putting in additional money.
Announcing funding for the project, Deputy Enterprise Minister Allan Wilson said: "This will see the site transformed to provide valuable industrial accommodation.
"This is a fantastic project with the potential to attract much-needed new investment and jobs to the area."
Joint venture scheme
The minister added: "This is a fine example of how projects backed by European funding can spark regeneration and provide communities with brighter prospects and a more sustainable future."
The Alcan redevelopment is one of 17 projects in the east of Scotland which will receive a total of �4m in European funding.
The council and enterprise agency have agreed to set up a joint venture scheme to take the project forward.
Scottish Enterprise has so far invested �4.5m in the site, at Langlees, and the council will have to put in up to �3.15m to meet clean-up costs.
The local authority said the redevelopment is also vital to secure plans by supermarket giant Asda for a large expansion in the area.
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