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City Deal

Oil & Gas

Deal for Granite City may rake in £1.2billion

The Aberdeen City Region Deal could ultimately be worth £1.2billion to the north-east. The Scottish and UK Governments as well as Aberdeen and Aberdeenshire councils signed off on the historic £250million package of support for the region yesterday.

North Sea

Sir Ian Wood: Economic change from City Deal will take time

Offshore industry doyen Sir Ian Wood said last night that the north-east should “be hopeful but patient” in waiting for changes following the city deal signing yesterday. Sir Ian, who founded private sector economic development organisation Opportunity North East (ONE) in December, warned changes would not happen overnight but that this was “the beginning”. ONE has an initial funding commitment of £25million from The Wood Family Trust.