- CHINESE investors could be attracted to plough hundreds of millions of pounds into key Scottish infrastructure projects – such as road upgrading and connecting offshore wind farms to the grid – on the back of moves to encourage foreign involvement in the HS2 high speed rail project.
Earlier this year it was revealed that Scotland is becoming a hotspot for Chinese property investors looking for an alternative to London with Edinburgh in particular attracting interest.
- Michael Watson, an infrastructure and projects lawyer at Pinsent Masons, said the visit could also have a knock-on impact north of the Border but only if Scotland is able to present an attractive investment proposition for the Chinese.
- Chancellor George Osborne this week travelled to China to try and attract investors there to bid for seven contracts worth £11.8 billion in total covering the first phase of HS2, between London and Birmingham.
- The key is to have projects which are visible, well developed and ready to be invested in, because we are competing in an extremely competitive global market and the Chinese and other overseas investors have a wealth of options on where to put their money.”
Watson said projects of sufficient scale which could interest Chinese investors include the A9 Perth to Inverness dualling project and rail electrification programmes.