The Times reports that Wilson Connolly stands to make a £210 profit from £2bn worth of government aid to Hyundai’s chip plant in Scotland.
The Korean electronics company has now shelved its plans for the plant. But the quoted housebuilder is picking up the money from infrastructure spending already committed by the government. It will also be building 3,500 houses and a leisure complex.
Wilson Connolly owned options over 242ha (600 acres) of the Dunfermline land through its acquisition of London and Clydesdale almost three years ago. It gained £3.6m from selling 60.7ha (150 acres) to Scottish Enterprise. Scottish Enterprise then gave the land to Hyundai and allowed the housebuilder to plan for the 182ha (450 acres) surrounding the site.
- The Times 19/01/98 page 48
