Sumitomo wins cabling contract: 5 need-to-know business stories

Hello and welcome to our daily digest of business, financial and economic news from around Scotland.

1. A Japanese group has been named the preferred bidder to make a subsea electricity cable connecting Shetland with the Scottish mainland.

SSE’s networks and transmission arm said it had picked Sumitomo to deliver the 260 kilometres of cabling required. The cost of the project has previously been estimated to be about £670 million. It is required to help bring the electricity generated by proposed new wind farms back on to the mainland where it is required.

The contract announcement came as Sumitomo broke ground on its £350 million factory at the Port of Nigg with an expectation the facility can be commissioned in 2026. The site is expected