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Last Updated: Monday, 27 March 2006, 16:04 GMT 17:04 UK
Regeneration consortium unveiled
Chapelcross nuclear plant
Chapelcross nuclear plant is in the process of closing
The preferred bidders for a multi-million pound project to help economic regeneration in Dumfries and Galloway have been selected.

A consortium of Bank of Scotland Corporate and Kilmartin Property Group will take the project forward.

It aims to help Gretna, Lockerbie and Annan recover from the future closure of the Chapelcross nuclear plant.

The scheme is part of enterprise company plans to generate more than 250m of private investment.

The two companies will enter negotiations with Scottish Enterprise Dumfries and Galloway (SEDG) to form a public private partnership operating through Katalyst Projects Limited (KPL).

'Excellent record'

SEDG has already pledged 8m to the project in order to attract higher levels of private investment.

The first phase of plans are expected to be announced in May and will focus on industrial units, office accommodation, leisure and retail developments.

"Both organisations have an excellent track record in property development and finance and we look forward to entering into negotiations to form a working partnership with them," said SEDG chief executive Colin Williamson.

"This is an important regeneration project and we are delighted that Bank of Scotland has been chosen as the preferred partner for this innovative scheme," added Bank of Scotland Corporate Director Gary MacDonald.

Chapelcross comes to a crossroads
07 Mar 06 |  Scotland
Bid to speed up nuclear run-down
11 Aug 05 |  Scotland
Aid for closed nuclear plant area
07 Feb 05 |  Scotland
Plan to ease nuclear job losses
06 Apr 04 |  Scotland
Nuclear decommissioning plea
07 Apr 03 |  Scotland

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