New owners have major investment plans for Lochabar plant in Scottish Highlands

On a further update on Lochabar aluminium smelter acquisition, Liberty House and SIMEC, the new owners of the smelter, are set to invest 120 million pounds ($149.76 million) in the project to make aluminium wheels for the car industry.

“Liberty aims to protect the existing 170 jobs in Lochaber and progressively expand metal manufacturing and downstream engineering there," the companies said on Monday. Both the companies plan to create 2,000 direct and supply-chain jobs in the heart of the Scottish Highlands and bring about 1 billion pound revenues to the local economy over the next decade.


Liberty and Simec - both members of the GFG Alliance now own the hydro power plants at Fort William and Kinlochleven and more than 100,000 acres of land. The Scottish government is guarantees the power purchases of the aluminium smelter. This is expected to reinforce the link between the hydro power station and the smelter.
 
First Minister Ms Sturgeon said the proposals reinforced the link between the smelter and the hydro station at Fort William.

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Commenting on the new project, Sanjeev Gupta, executive chairman of Liberty House Group and of the GFG Alliance strategic board, said, "We hope this day will come to be recognised as the start of a bright new future for Highland industry. It puts Lochaber right at the heart of our vision for sustainable and integrated local production that can revitalise British manufacturing."

Jay Hambro, Chief Investment Officer of the GFG Alliance, and Chief Executive of Simec, Energy & Mining Divisions said, "Today Lochaber provides the power required to produce 47,000 tonnes of aluminium. We have already identified investment programmes to significantly increase power generation from the existing assets and are studying how to create further capacity locally."