Aberdeen City Council has unveiled a new investment programme developed by the public and private sectors in Aberdeen and Aberdeenshire to generate funding for infrastructure rejuvenation in the area.

The Aberdeen City Region Deal aims to release about £2.9billion of funding over the next 20 years. This would be supported by the capital plans already in place by Aberdeen City Council and Aberdeenshire Council, which have outlined £1.4bn of investment over the next 10 years on top of the £2.9bn proposed programme.

Leader of Aberdeen City Council Councillor Jenny Laing said: "The Aberdeen City Region Deal considers key interventions that will maximise our opportunity for growth, we know in our region these are housing, transport, city centre regeneration and development of the harbour.

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"We have worked with the private sector who tell us that in addition to the infrastructure difficulties, skills and research and development are also critical for them. These are issues that concern us all, and securing the Deal would help us to realise the full potential of the region, working across the public and private sectors in the best interests of all.

"Aberdeen is keen to seize new opportunities to support the further growth of oil and gas and develop the industry further. The Aberdeen City Region Deal provides an opportunity to support and protect the sector - investing in the future."

Leader of Aberdeenshire Council Councillor Jim Gifford said: "The UK and Scottish Governments have identified city regions as being one of the key engines of economic growth. By working alongside the city and our partners in the private sector, we can ensure a clear, joined-up approach to tackling pressing issues and removing barriers to allow us to achieve even more as a region.

"Today is the beginning of a discussion. If we are able to secure the backing of our councillors, we will continue to engage across all three layers of government and all parties to build a programme to support growth and prosperity for the future."

Both local authorities are today to discuss the matter concurrently at their respective Full Council meetings today, March 12.

(IT/CD)