SCOTCH Whisky Investments (SWI) has toasted the opening of a new whisky storage and warehousing facility in Fife.

Comprising four whisky storage warehouses, maintenance and bottling buildings and offices, the £10 million investment marks the first phase of longer-term development in the site at Southfield Industrial Estate in Glenrothes by the international whisky asset management business.

Supporting the cask investment and storage market, it will allow whisky to age on-site and forms part of a multi-million-pound investment by the company in Fife, stimulating the local economy and create jobs in the region.

Managing director of SWI Keith Rennie said: “We are delighted to open our new whisky storage facility here in Glenrothes and would welcome anyone requiring such facilities to come and speak with us.

“The facility, which will be our base in Scotland for many years to come, is a crucial part of our expansion plans globally, delivering a multi-million-pound package of investment in Fife and creating considerable employment opportunities.

“Our vision as a company is to showcase and educate people about single malt Scotch whisky and promote investment in the commodity. Our new state-of-the-art storage facility will help us achieve that goal.

“We would like to thank both Fife Council and Scottish Enterprise, who provided significant support and funding for the additional phases of the development.”

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Intending to expand to 27 warehouses, which could hold some 200,000 casks, it is anticipated the development will create up to 38 full-time jobs on site.

SWI also recently announced that it is set to relocate its headquarters, currently located in Sassenheim outside Amsterdam, to Falkland in Fife.

It is also the intention of SWI to relocate one of the world’s largest whisky collections to its new home in Falkland once the development is complete.