Current status: Answered by Derek Mackay on 23 January 2020
To ask the Scottish Government what form its investment of £37.4 million in Burntisland Fabrications Ltd (BiFab) takes, and whether it expects to receive a commercial return.
The Scottish Government’s investment of £37.4 million in Burntisland Fabrications (BiFab) was converted to a 32.4% equity stake in the company.
According to the most recent valuation obtained, our equity holding has a carrying value of £2 million, as outlined in recently published Scottish Government Accounts 2019 (available at: https://www.gov.scot/publications/scottish-government-consolidated-accounts-year-ended-31-march-2019/ ).
While this valuation is significantly lower than the sums advanced, we have been clear that we have made a long term investment in, and commitment to, BiFab.