Private sector buys majority stake in BiFab for £4 while SNP puts in £37 million

The private firm brought in to run BiFab bought a majority stake for just £4 while the SNP Government poured tens of millions of pounds into the company, it has been revealed.

The Scottish Government’s 32.4 per cent stake cost taxpayers approximately £37.4 million, while DF Barnes reportedly bought their 67.6 per cent stake for approximately £4.

On Friday, the Scottish Conservatives called for a parliamentary inquiry and an audit to begin on BiFab.

Scottish Conservative infrastructure spokesman Graham Simpson MSP said: “The embarrassing gulf in public and private investment reveals that the SNP Government have been taken for a ride.

“They put in tens of millions of pounds while the private sector seems to have put in £4. The SNP assumed all the risk, got dreadful value for taxpayers and let the yards go to waste, with no plan to secure their future and save the jobs.

“The SNP shouted from the rooftops that they had saved BiFab and protected those jobs. It’s now clear they made inexcusable mistakes at every turn, from being fleeced initially to not seeking a plan to rebuild the company.

“A parliamentary inquiry and an audit must take place to find out how so much money was squandered without securing the yards’ future.”

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