High-level dignitaries from the UK and Scottish governments will jet to the Granite City on Monday to officially sign the £250million Aberdeen City Region Deal.
Lord Dunlop, representing the Scotland Office at Westminster, economy secretary Keith Brown MSP, the leaders of both Aberdeen and Aberdeenshire councils, oil industry chief Sir Ian Wood and Colette Cohen from the oil and gas technology centre will all descend on the city for the signing.
The cash, given jointly by UK and Scottish governments, will be used for a number of projects across the region including a new energy innovation centre, an expansion of Aberdeen harbour, improvements in digital connectivity and attempts to diversify the economy of the region.
In January, months of speculation was ended with the parties involved signing a memorandum of understanding in Aberdeen.
Economy secretary Keith Brown said: “Our officials are currently working with the relevant councils to support our shared desire to maximise the impact of the city region deal and the Scottish Government’s additional investment, to make proposals a reality and deliver a significant step change to the local economy of the north-east.”
Jenny Laing leader of the city council said: “The signing of the documents marks the final stage in the process of bringing the deal to fruition – but also marks the beginning of a long-term programme designed to make a positive impact on our region and its economy.
“The City Region Deal and the projects it supports will have a major part to play in our vision for a bright and prosperous future, forming part of a one-billion pound Aberdeen City Council capital programme that touches all of our communities – improving opportunities for residents and businesses alike.
“We are proud to be playing our part in delivering a package of projects which will bring enormous benefits.”
Aberdeenshire council co-leader Richard Thomson said: “One of the major benefits already has been the public and private sectors working so closely together.
“I think we need to look in the future to anchor the human capital of the north-east in the region as a great place to live, work and invest.”