ALEX Salmond will lead an "unprecedented" Scottish Government trade delegation to the Olympics in a bid to drum up millions of pounds in new business contracts as diplomats and company executives from around the world converge on the UK capital.

The First Minister, who will attend the London 2012 opening ceremony on Friday, will spearhead the charm offensive to showcase the best of Scotland's industries, from engineering to culture. It will focus on reaching major UK and overseas companies that do not have operations north of the Border.

Many foreign politicians and dignitaries, as well as 200 of the world's top business leaders, will receive lavish hospitality at a dedicated facility, Scotland House, in Pall Mall near Buckingham Palace – just yards away from the Westminster Government's own showcase facility, a refurbished Lancaster House.

Mr Salmond will be accompanied by John Swinney, Finance Secretary, Fiona Hyslop, Culture Secretary, Richard Lochhead, Environment Secretary, and Shona Robison, Sports Minister.

All will be involved in what is being described as "an extensive programme of engagement" throughout the Olympics and beyond until September 6 at venues across London, including the Olympic Village.

The move by the Scottish Government mirrors a similar one by the UK Government in which ministers and officials have been asked to target 50 key projects, covering construction, energy and infrastructure, and which, if deals are won, could bring in more than £4 billion.

Prime Minister David Cameron's wish-list is said to include Chinese healthcare deals, the construction of Brazilian shipyards and Russian railways, deepwater drilling off the Mexican coast and oil exploration off Kazakhstan.

However, British politicians and captains of industry will have to

compete for lucrative contracts with other countries, which have used the 2012 Games to establish their own pavilions in London.

Scotland House 2012 will be similar to previous showcase facilities at the Commonwealth Games in Melbourne in 2006 and Delhi in 2010. The facility will host more than 40 events. It will become a venue for business meetings as well as a base for the families of Scottish athletes. The charm offensive will continue at next month's London Paralympics.

The First Minister will launch Scotland House and the programme of engagements on Friday to a domestic and international audience made up of business leaders, sportsmen and women and high-profile Scots.

The day before, Mr Swinney will meet international businesses and diplomats at the Olympics Global Investment Conference.

Mr Swinney said: "The 2012 Olympics provide a good opportunity to showcase Scotland's strengths on an international stage."

l Alex Salmond was branded a hypocrite last night by Labour's sports spokeswoman Patricia Ferguson. She suggested he had been granted an access-all-areas pass to the Olympics.

A spokesman for Mr Salmond said it was "a pathetic smear".